FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2016

FAIR VALUE MEASUREMENTS

Schedule presenting information for financial instruments

The following table presents information for financial instruments at September 30, 2016 and December 31, 2015 (dollars in thousands):

		September 30, 2016				December 31, 2015
	Level in Fair	Carrying		Estimated		Carrying		Estimated
	Value Hierarchy	Amount		Fair Value		Amount		Fair Value
Financial assets:
Cash and cash equivalents	Level 1	$	48,615	$	48,615	$	25,008	$	25,008
Interest-bearing deposits	Level 2		14,047		14,047		5,089		5,089
Securities available for sale	Level 2		88,886		88,886		53,728		53,728
Federal Home Loan Bank stock	Level 2		2,926		2,926		2,169		2,169
Net loans	Level 3		751,942		756,548		613,390		614,187
Accrued interest receivable	Level 3		1,998		1,998		1,416		1,416
Total financial assets		$	908,414	$	913,020	$	700,800	$	701,597
Financial liabilities:
Deposits	Level 2	$	807,180	$	805,299	$	610,323	$	607,636
Borrowings	Level 2		67,730		69,085		45,754		45,989
Accrued interest payable	Level 3		319		319		174		174
Total financial liabilties		$	875,229	$	874,703	$	656,251	$	653,799

Schedule of assets measured at fair value on a non-recurring basis

Assets Measured at Fair Value on a Nonrecurring Basis at September 30, 2016

			Quoted Prices		Significant		Significant
			in Active Markets		Other Observable		Unobservable		Total (Gains) Losses for		Total (Gains) Losses for
	Balance at		for Identical Assets		Inputs		Inputs		Three Months Ended		Nine Months Ended
(dollars in thousands)	September 30, 2016		(Level 1)		(Level 2)		(Level 3)		September 30, 2016		September 30, 2016
Assets
Impaired loans	$	11,328	$	—	$	—	$	11,328	$	80	$	583
Other real estate owned		3,269		—		—		3,269		60		62
									$	140		645

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

			Quoted Prices		Significant		Significant
			in Active Markets		Other Observable		Unobservable		Total Losses for
	Balance at		for Identical Assets		Inputs		Inputs		Twelve months ended
(dollars in thousands)	December 31, 2015		(Level 1)		(Level 2)		(Level 3)		December 31, 2015
Assets
Impaired loans	$	10,724	$	—	$	—	$	10,724	$	1,852
Other real estate held for sale		2,324		—		—		2,324		332
									$	2,184