Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Of Financial Instruments [Abstract]

Fair Value Measurements on Differing Levels

		June 30, 2016
(Dollars in thousands)		Level 1		Level 2		Level 3		Fair Value
Assets Measured at Fair Value on a Recurring Basis
AFS Investment Securities:
US Government agency obligations	$	-	$	54,665	$	-	$	54,665
GSE mortgage-backed securities		-		48,714		-		48,714
Collateralized mortgage obligations GSE		-		14,698		-		14,698
Corporate bonds		-		17,877		-		17,877
State and municipal tax-exempt		-		12,351		-		12,351
Total	$	-	$	148,305	$	-	$	148,305
Assets Measured at Fair Value on a Nonrecurring Basis
Impaired loans	$	-	$	-	$	1,281	$	1,281
Total	$	-	$	-	$	1,281	$	1,281

		December 31, 2015
(Dollars in thousands)		Level 1		Level 2		Level 3		Fair Value
Assets Measured at Fair Value on a Recurring Basis
AFS Investment Securities:
US Government agency obligations	$	-	$	58,208	$	-	$	58,208
GSE mortgage-backed securities		-		40,351		-		40,351
Collateralized mortgage obligations GSE		-		15,806		-		15,806
Corporate bonds		-		20,571		-		20,571
State and municipal tax-exempt		-		17,443		-		17,443
Total	$	-	$	152,379	$	-	$	152,379
Assets Measured at Fair Value on a Nonrecurring Basis
Impaired loans	$	-	$	-	$	964	$	964
OREO and other repossessed property		-		-		682		682
Total	$	-	$	-	$	1,646	$	1,646

Quantitative Information About Level 3 Fair Value Measurements

June 30, 2016
Quantitative Information about Level 3 Fair Value Measurement
		Fair Value	Valuation		Range
(Dollars in thousands)		Estimate	Techniques	Unobservable Input	(Weighted Average)
Impaired loans - Residential mortgage	$	741	Appraisal of	Appraisal adj. (2)	-25%	to	-25%	(-25%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loans - Commercial term		79	Appraisal of	Appraisal adj. (2)	-72%	to	-72%	(-72%)
			collateral (1)	Disposal costs (2)	-11%	to	-11%	(-11%)
Impaired loans - Commercial construction		358	Appraisal of	Appraisal adj. (2)	-20%	to	-20%	(-20%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loans - Consumer other		103	Appraisal of	Appraisal adj. (2)	0%	to	0%	(0%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loan total	$	1,281

(1)

(2)

December 31, 2015
Quantitative Information about Level 3 Fair Value Measurement
		Fair Value	Valuation		Range
(Dollars in thousands)		Estimate	Techniques	Unobservable Input	(Weighted Average)
Impaired loans - Residential mortgage	$	115	Appraisal of	Appraisal adj. (2)	0%	to	0%	(0%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loans - Commercial mortgage		97	Appraisal of	Appraisal adj. (2)	0%	to	0%	(0%)
			collateral (1)	Disposal costs (2)	-13%	to	-13%	(-13%)
Impaired loans - Commercial term		90	Appraisal of	Appraisal adj. (2)	-72%	to	-72%	(-72%)
			collateral (1)	Disposal costs (2)	-11%	to	-11%	(-11%)
Impaired loans - Commercial construction		559	Appraisal of	Appraisal adj. (2)	0%	to	0%	(0%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loans - Consumer other		103	Appraisal of	Appraisal adj. (2)	0%	to	0%	(0%)
			collateral (1)	Disposal costs (2)	-8%	to	-8%	(-8%)
Impaired loan total	$	964
Other real estate owned	$	682		Disposal costs (2)	-8%	to	-8%	(-8%)

⁽¹⁾ Fair value is generally determined through independent appraisals or sales contracts of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

⁽²⁾ Appraisals are adjusted by management for qualitative factors and disposal costs.

Carrying Amounts and Estimated Fair Values of Financial Instruments

		June 30, 2016
		Carrying		Fair
(Dollars in thousands)		Amount		Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	20,146	$	20,146	$	20,146	$	-	$	-
AFS investment securities		148,305		148,305		-		148,305		-
HTM investment securities		74,835		76,403		-		74,403		2,000
Restricted stock		3,318		3,318		-		3,318		-
Loans, net of allowance, including impaired		489,170		476,993		-		-		476,993
Accrued interest receivable		2,390		2,390		-		2,390		-
Financial liabilities
Deposits:
Non-interest-bearing deposits		135,212		135,212		-		135,212		-
Interest-bearing deposits		409,623		409,623		-		409,623		-
Time deposits		73,560		73,443		-		73,443		-
Brokered deposits		23,449		23,482		-		23,482		-
Repurchase agreements		17,748		17,748		-		17,748		-
FHLBP advances		20,000		20,311		-		20,311		-
Junior subordinated debentures and other borrowings		9,279		8,284		-		8,284		-
Subordinated debt		9,750		9,406		-		9,406		-
Accrued interest payable		377		377		-		377		-
Off-balance sheet instruments		-		-		-		-		-

		December 31, 2015
		Carrying		Fair
(Dollars in thousands)		Amount		Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	21,119	$	21,119	$	21,119	$	-	$	-
AFS investment securities		152,379		152,379		-		152,379		-
HTM investment securities		67,829		68,431		-		66,431		2,000
Restricted stock		3,447		3,447		-		3,447		-
Loans, net of allowance, including impaired		476,823		461,925		-		-		461,925
Accrued interest receivable		2,410		2,410		-		2,410		-
Financial liabilities
Deposits:
Non-interest-bearing deposits		125,581		125,581		-		125,581		-
Interest-bearing deposits		396,188		396,188		-		396,188		-
Time deposits		66,018		65,697		-		65,697		-
Brokered deposits		18,488		18,327		-		18,327		-
Repurchase agreements		32,416		32,416		-		32,416		-
FHLBP advances		30,000		30,210		-		30,210		-
Junior subordinated debentures and other borrowings		9,279		7,889		-		7,889		-
Subordinated debt		9,750		9,999		-		9,999		-
Accrued interest payable		345		345		-		345		-
Off-balance sheet instruments		-		-		-		-		-