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Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Schedule of information about assets recorded in consolidated statement of financial position at their fair value on a recurring basis

The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of March 31, 2013 and December 31, 2012, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

			Fair Value Measurements Using
	March 31, 2013		Level 1	Level 2	Level 3
	(In Thousands)

Available for sale securities
Mortgage-backed securities	$	114,076	—	114,076	—
Collateralized mortgage obligations
Government sponsored enterprise issued	26,092		—	26,092	—
Government sponsored enterprise bonds	10,021		—	10,021	—
Municipal securities	58,729		—	58,729	—
Other debt securities	5,136		5,136	—	—
Certificates of deposit	6,417		—	6,417	—
Loans held for sale	104,168		—	104,168	—
Mortgage banking derivative assets	2,364		—	—	2,364
Mortgage banking derivative liabilities	124		—	—	124

	December 31,		Fair Value Measurements Using
	2012		Level 1	Level 2	Level 3
	(In Thousands)

Available for sale securities
Mortgage-backed securities	$	119,056	—	119,056	—
Collateralized mortgage obligations
Government sponsored enterprise issued	29,579		—	29,579	—
Government sponsored enterprise bonds	8,017		—	8,017	—
Municipal securities	37,371		—	37,371	—
Other debt securities	5,070		5,070	—	—
Certificates of deposit	5,924		—	5,924	—
Loans held for sale	133,613		—	133,613	—
Mortgage banking derivative assets	1,668		—	—	1,668
Mortgage banking derivative liabilities	249		—	—	249

Level 3 inputs - Level 3 inputs are unobservable inputs for the asset or liability and include situations where there is little, if any, market activity for the asset or liability.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a recurring basis as of December 31, 2012 and December 31, 2011, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

	December 31,		Fair Value Measurements Using
	2012		Level 1	Level 2	Level 3
	(In Thousands)

Available for sale securities
Mortgage-backed securities	$	119,056	—	119,056	—
Collateralized mortgage obligations
Government sponsored enterprise issued	29,579		—	29,579	—
Government sponsored enterprise bonds	8,017		—	8,017	—
Municipal securities	37,371		—	37,371	—
Other debt securities	5,070		5,070	—	—
Certificates of deposit	5,924		—	5,924	—
Loans held for sale	133,613		—	133,613	—
Mortgage banking derivative assets	1,668		—	—	1,668
Mortgage banking derivative liabilities	249		—	—	249

	December 31,		Fair Value Measurements Using
	2011		Level 1	Level 2	Level 3
	(In Thousands)

Available for sale securities
Mortgage-backed securities	$	35,417	—	35,417	—
Collateralized mortgage obligations
Government sponsored enterprise issued	33,196		—	33,196	—
Private-label issued	18,451		—	—	18,451
Government sponsored enterprise bonds	71,349		—	71,349	—
Municipal securities	39,068		—	39,068	—
Other debt securities	5,118		5,118	—	—
Certificates of deposit	3,920		—	3,920	—
Loans held for sale	88,283		—	88,283	—
Mortgage banking derivative assets	924		—	—	924
Mortgage banking derivative liabilities	397		—	—	397

Schedule of reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2013 and 2012.

	Available for sale securities			Mortgage banking derivatives, net
	(In Thousands)

Balance at December 31, 2011	$	18,451		527

Transfer into level 3	—			—
Unrealized holding losses arising during the period:
Included in other comprehensive income	1,023			—
Other than temporary impairment included in net loss	(113		)	—
Principal repayments	(1,352		)	—
Net accretion of discount/amortization of premium	—			—
Sales of available for sale securities	(18,009		)
Mortgage derivative gain, net	—			892
Balance at December 31, 2012	—			1,419

Transfer into level 3	—			—
Unrealized holding losses arising during the period:
Included in other comprehensive income	—			—
Other than temporary impairment included in net loss	—			—
Principal repayments	—			—
Net accretion of discount/amortization of premium	—			—
Mortgage derivative gain, net	—			821
Balance at March 31, 2013	$	—		2,240

The table below presents reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2012 and 2011.

	Available for sale securities			Mortgage banking derivatives, net
	(In Thousands)

Balance at December 31, 2010	$	20,301		407

Transfer into level 3	—			—
Unrealized holding losses arising during the period:
Included in other comprehensive income	(142		)	—
Other than temporary impairment included in net loss	(456		)	—
Principal repayments	(1,252		)	—
Net accretion of discount/amortization of premium	—			—
Mortgage derivative gain, net	—			120
Balance at December 31, 2011	18,451			527

Transfer into level 3	—			—
Unrealized holding losses arising during the period:
Included in other comprehensive income	1,023			—
Other than temporary impairment included in net loss	(113		)	—
Principal repayments	(1,352		)	—
Net accretion of discount/amortization of premium	—			—
Sales of available for sale securities	(18,009		)
Mortgage derivative gain, net	—			892
Balance at December 31, 2012	$	—		1,419

Schedule of information about assets recorded in consolidated statement of financial position at their fair value on a non-recurring basis

The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of March 31, 2013 and December 31, 2012, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

			Fair Value Measurements Using
	March 31, 2013		Level 1	Level 2	Level 3
	(In Thousands)
Impaired loans, net (1)	$	35,803	—	—	35,803
Real estate owned	30,799		—	—	30,799

	December 31,		Fair Value Measurements Using
	2012		Level 1	Level 2	Level 3
	(In Thousands)
Impaired loans, net (1)	$	40,071	—	—	40,071
Real estate owned	35,974		—	—	35,974

(1) Represents collateral-dependent impaired loans, net, which are included in loans.

Assets Recorded at Fair Value on a Non-recurring Basis

The following table presents information about our assets recorded in our consolidated statement of financial position at their fair value on a non-recurring basis as of December 31, 2012 and December 31, 2011, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

	December 31,		Fair Value Measurements Using
	2012		Level 1	Level 2	Level 3
	(In Thousands)
Impaired loans, net (1)	$	40,071	—	—	40,071
Real estate owned	35,974		—	—	35,974

	December 31,		Fair Value Measurements Using
	2011		Level 1	Level 2	Level 3
	(In Thousands)
Impaired loans, net (1)	$	43,432	—	—	43,432
Real estate owned	56,670		—	—	56,670

(1) Represents collateral-dependent impaired loans, net, which are included in loans.

Schedule of the significant unobservable inputs used in the fair value measurements for Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2013, the significant unobservable inputs used in the fair value measurements were as follows:

				Significant	Significant Unobservable Input Value
	Fair Value at		Valuation	Unobservable	Minimum		Maximum
	March 31, 2013		Technique	Inputs	Value		Value

Mortgage banking derivatives	$	2,240	Pricing models	Pull through rate	68.7	%	100.0	%
Impaired loans	35,803		Market approach	Disount rates applied to appraisals	15.0	%	30.0	%
Real estate owned	30,799		Market approach	Disount rates applied to appraisals	5.0	%	89.4	%

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2012, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value at		Significant	Significant Unobservable Input Value
	December 31, 2012	Valuation Technique	Unobservable Inputs	Minimum Value		Maximum Value

Mortgage banking derivatives	1,419	Pricing models	Pull through rate	68.9	%	100.0	%
Impaired loans	40,071	Market approach	Disount rates applied to appraisals	15.0	%	30.0	%
Real estate owned	35,974	Market approach	Disount rates applied to appraisals	5.0	%	76.5	%

Schedule of carrying amounts and fair values of the Company's financial instruments

The carrying amounts and fair values of the Company’s financial instruments consist of the following at March 31, 2013 and December 31, 2012:

	March 31, 2013						December 31, 2012
	Carrying		Fair Value				Carrying	Fair Value
	amount		Total	Level 1	Level 2	Level 3	amount	Total	Level 1	Level 2	Level 3
	(In Thousands)
Financial Assets
Cash and cash equivalents	$	64,114	64,114	64,114	—	—	71,649	71,469	71,469	—	—
Securities available-for-sale	220,471		220,471	5,136	215,335	—	205,017	205,017	5,070	199,947	—
Loans held for sale	104,168		104,168	—	104,168	—	133,613	133,613	—	133,613	—
Loans receivable	1,124,937		1,139,665	—	—	1,139,665	1,133,672	1,148,107	—	—	1,148,107
FHLB stock	20,193		20,193	—	20,193	—	20,193	20,193	20,193	—	—
Cash surrender value of life insurance	38,201		38,201	38,201	—	—	38,061	38,061	38,061	—	—
Real estate owned	30,799		30,799	—	—	30,799	35,974	35,974	—	—	35,974
Accrued interest receivable	3,952		3,952	3,952	—	—	3,452	3,452	3,452	—	—
Mortgage banking derivative assets	2,364		2,364	—	—	2,364	1,668	1,668	—	—	1,668

Financial Liabilities
Deposits	914,919		917,255	202,526	714,729	—	939,513	942,118	202,593	739,525	—
Advance payments by borrowers for taxes	7,346		7,346	7,346	—	—	1,672	1,672	1,672	—	—
Borrowings	479,324		531,868	—	531,868	—	479,888	537,299	—	537,299	—
Accrued interest payable	1,651		1,651	1,651	—	—	1,715	1,715	1,715	—	—
Mortgage banking derivative liabilities	124		124	—	—	124	249	249	—	—	249

Other Financial Instruments
Stand-by letters of credit	8		8	—	—	8	5	5	—	—	5

The carrying amounts and fair values of the Company’s financial instruments consist of the following at December 31, 2012 and December 31, 2011:

	December 31, 2012						December 31, 2011
	Carrying						Carrying	Fair
	amount		Fair Value				amount	value
			Total	Level 1	Level 2	Level 3
	(In Thousands)
Financial Assets
Cash and cash equivalents	$	71,649	71,469	71,469	—	—	80,380	80,380
Securities available-for-sale	205,017		205,017	5,070	199,947	—	206,519	206,519
Securities held-to-maturity	—		—	—	—	—	2,648	2,542
Loans held for sale	133,613		133,613	—	133,613	—	88,283	88,283
Loans receivable	1,133,672		1,148,107	—	—	1,148,107	1,216,664	1,225,141
FHLB stock	20,193		20,193	—	20,193	—	21,653	21,653
Cash surrender value of life insurance	38,061		38,061	38,061	—	—	36,749	36,749
Real estate owned	35,974		35,974	—	—	35,974	56,670	56,670
Accrued interest receivable	3,452		3,452	3,452	—	—	4,064	4,064
Mortgage banking derivative assets	1,668		1,668	—	—	1,668	924	924

Financial Liabilities
Deposits	939,513		942,118	202,593	739,525	—	1,051,292	1,052,663
Advance payments by borrowers for taxes	1,672		1,672	1,672	—	—	942	942
Borrowings	479,888		537,299	—	537,299	—	461,138	517,624
Accrued interest payable	1,715		1,715	1,715	—	—	2,087	2,087
Mortgage banking derivative liabilities	249		249	—	—	249	397	397

Other Financial Instruments
Stand-by letters of credit	5		5	—	—	5	6	6

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

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.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details