Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of assets reported on the balance sheet at their fair value on a recurring basis

The following table presents the assets reported on the balance sheet at their fair value on a recurring basis as of September 30, 2016 and December 31, 2015, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	September 30, 2016
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
U.S. Government and agency securities	$	—	$	—	$	—	$	—
Mortgage-backed securities	—		10,259		—		10,259
Asset-backed securities	—		1,538		—		1,538
State and political securities	—		62,642		—		62,642
Other debt securities	—		54,213		—		54,213
Financial institution equity securities	10,773		—		—		10,773
Other equity securities	1,632		—		—		1,632
Investment securities, trading:
Financial institution equity securities	—		—		—		—
Total assets measured on a recurring basis	$	12,405	$	128,652	$	—	$	141,057



	December 31, 2015
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
U.S. Government and agency securities	$	—	$	3,549	$	—	$	3,549
Mortgage-backed securities	—		10,009		—		10,009
Asset-backed securities	—		1,940		—		1,940
State and political securities	—		86,555		—		86,555
Other debt securities	—		57,772		—		57,772
Financial institution equity securities	11,483		—		—		11,483
Other equity securities	4,849		—		—		4,849
Investment securities, trading:
Financial institution equity securities	73		—		—		73
Total assets measured on a recurring basis	$	16,405	$	159,825	$	—	$	176,230

Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis

The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of September 30, 2016 and December 31, 2015, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	September 30, 2016
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	14,430	$	14,430
Other real estate owned	—		—		1,290		1,290
Total assets measured on a non-recurring basis	$	—	$	—	$	15,720	$	15,720



	December 31, 2015
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	13,779	$	13,779
Other real estate owned	—		—		1,696		1,696
Total assets measured on a non-recurring basis	$	—	$	—	$	15,475	$	15,475

Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques

The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of September 30, 2016 and December 31, 2015:

September 30, 2016

Quantitative Information About Level III Fair Value Measurements

(In Thousands)

Fair Value

Valuation Technique(s)

Unobservable Inputs

Range

Weighted Average

Impaired loans

5,126

Discounted cash flow

Temporary reduction in payment amount

0 to (70)%

(16)%

9,304

Appraisal of collateral

Appraisal adjustments (1)

0 to (20)%

(13)%

Other real estate owned

1,290

Appraisal of collateral (1)

(1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

December 31, 2015