FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2015

FAIR VALUE MEASUREMENTS

Schedule presenting information for financial instruments

The following table presents information for financial instruments at March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands):

		March 31, 2015				December 31, 2014				March 31, 2014
	Level in Fair	Carrying		Estimated		Carrying		Estimated		Carrying		Estimated
	Value Hierarchy	Amount		Fair Value		Amount		Fair Value		Amount		Fair Value
Financial assets:
Cash and cash equivalents	Level 1	$	24,246	$	24,246	$	21,947	$	21,947	$	24,751	$	24,751
Interest-bearing deposits	Level 2	5,832		5,832		5,797		5,797		10		10
Securities available for sale	Level 2	63,313		63,313		65,832		65,832		47,411		47,411
Federal Home Loan Bank stock	Level 2	2,973		2,973		2,973		2,973		3,060		3,060
Net loans	Level 3	592,204		593,121		595,795		596,429		480,979		481,101
Accrued interest receivable	Level 3	1,758		1,758		1,680		1,680		1,468		1,468
Total financial assets		$	690,326	$	691,243	$	694,024	$	694,658	$	557,679	$	557,801
Financial liabilities:
Deposits	Level 2	$	597,913	$	598,184	$	606,973	$	606,534	$	475,710	$	474,958
Borrowings	Level 2	49,839		50,685		49,846		50,280		38,852		38,604
Accrued interest payable	Level 3	227		227		205		205		190		190
Total financial liabilties		$	647,979	$	649,096	$	657,024	$	657,019	$	514,752	$	513,752

Schedule of fair values of assets using Level 3 inputs

Assets Measured at Fair Value on a Nonrecurring Basis at March 31, 2015

			Quoted Prices		Significant		Significant
			in Active Markets		Other Observable		Unobservable		Total Losses for
	Balance at		for Identical Assets		Inputs		Inputs		Three Months Ended
(dollars in thousands)	March 31, 2015		(Level 1)		(Level 2)		(Level 3)		March 31, 2015
Assets
Impaired loans	$	18,308	$	—	$	—	$	18,308	$	—
Other real estate owned	2,632		—		—		2,632		17
									$	17

Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2014

			Quoted Prices		Significant		Significant
			in Active Markets		Other Observable		Unobservable		Total Losses for
	Balance at		for Identical Assets		Inputs		Inputs		Year Ended
(dollars in thousands)	December 31, 2014		(Level 1)		(Level 2)		(Level 3)		December 31, 2014
Assets
Impaired loans	$	1,658	$	—	$	—	$	1,658	$	857
Other real estate held for sale	3,010		—		—		3,010		280
									$	1,137

Assets Measured at Fair Value on a Nonrecurring Basis at March 31, 2014

			Quoted Prices		Significant		Significant
			in Active Markets		Other Observable		Unobservable		Total Losses for
	Balance at		for Identical Assets		Inputs		Inputs		Three Months Ended
(dollars in thousands)	March 31, 2014		(Level 1)		(Level 2)		(Level 3)		March 31, 2014
Assets
Impaired loans	$	1,491	$	—	$	—	$	1,491	$	77
Other real estate owned	2,166		—		—		2,166		—
									$	77