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Fair Value Measurements And Fair Values Of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2016
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract]  
Fair Value, By Balance Sheet Grouping



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



June 30, 2016



Carrying

 

Fair

 

 

 

 

 

 

 

(Dollars in thousands)

Amount

 

Value

 

Level 1

 

Level 2

 

Level 3



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

41,049 

 

$

41,049 

 

$

41,049 

 

$

 -

 

$

 -

Investment securities available for sale

 

163,557 

 

 

163,557 

 

 

240 

 

 

163,317 

 

 

 -

Restricted stock

 

436 

 

 

436 

 

 

 -

 

 

436 

 

 

 -

Loans held for sale

 

487 

 

 

487 

 

 

 -

 

 

487 

 

 

 -

Net loans

 

816,338 

 

 

824,266 

 

 

 -

 

 

 -

 

 

824,266 

Accrued interest receivable

 

3,151 

 

 

3,151 

 

 

 -

 

 

3,151 

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

$

965,554 

 

$

965,439 

 

$

 -

 

$

965,439 

 

$

 -

Accrued interest payable

 

120 

 

 

120 

 

 

 -

 

 

120 

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



December 31, 2015



Carrying

 

Fair

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

Amount

 

Value

 

Level 1

 

Level 2

 

Level 3



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

39,166 

 

$

39,166 

 

$

39,166 

 

$

 -

 

$

 -

Investment securities available for sale

 

159,473 

 

 

159,473 

 

 

233 

 

 

159,240 

 

 

 -

Restricted stock

 

782 

 

 

782 

 

 

 -

 

 

782 

 

 

 -

Loans held for sale

 

461 

 

 

461 

 

 

 -

 

 

461 

 

 

 -

Net loans

 

771,930 

 

 

779,742 

 

 

 -

 

 

 -

 

 

779,742 

Accrued interest receivable

 

3,164 

 

 

3,164 

 

 

 -

 

 

3,164 

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

$

918,512 

 

$

918,401 

 

$

 -

 

$

918,401 

 

$

 -

Accrued interest payable

 

124 

 

 

124 

 

 

 -

 

 

124 

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 



Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

(Dollars in Thousands

Fair Value at June 30, 2016

Asset  Description

Level 1

 

Level 2

 

Level 3

 

Total

Equity securities

$

240 

 

$

 -

 

$

 -

 

$

240 

U.S. Government and Agency securities

 

 -

 

 

13,426 

 

 

 -

 

 

13,426 

Municipal securities

 

 -

 

 

70,741 

 

 

 -

 

 

70,741 

Trust Preferred Securities

 

 -

 

 

5,170 

 

 

 -

 

 

5,170 

Agency mortgage-backed securities

 

 -

 

 

72,723 

 

 

 -

 

 

72,723 

Private-label mortgage-backed securities

 

 -

 

 

1,223 

 

 

 -

 

 

1,223 

Asset-backed securities

 

 -

 

 

34 

 

 

 -

 

 

34 

Total assets

$

240 

 

$

163,317 

 

$

 -

 

$

163,557 



 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

(Dollars in Thousands)

Fair Value at December 31, 2015

Asset  Description

Level 1

 

Level 2

 

Level 3

 

Total

Equity securities

$

233 

 

$

 -

 

$

 -

 

$

233 

U.S. Government and Agency securities

 

 -

 

 

13,836 

 

 

 -

 

 

13,836 

Municipal securities

 

 -

 

 

69,188 

 

 

 -

 

 

69,188 

Trust Preferred Securities

 

 -

 

 

5,289 

 

 

 -

 

 

5,289 

Agency mortgage-backed securities

 

 -

 

 

69,519 

 

 

 -

 

 

69,519 

Private-label mortgage-backed securities

 

 -

 

 

1,372 

 

 

 -

 

 

1,372 

Asset-backed securities

 

 -

 

 

36 

 

 

 -

 

 

36 

Total assets

$

233 

 

$

159,240 

 

$

 -

 

$

159,473 



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Schedule Of Fair Value An A Nonrecurring Basis









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

 

 



Fair Value at June 30, 2016

Asset  Description

Level 1

 

Level 2

 

Level 3

 

Total

Impaired loans (1)

$

 -

 

$

 -

 

$

3,363 

 

$

3,363 

Other real estate owned (1)

 

 -

 

 

 -

 

 

225 

 

 

225 

Total assets

$

 -

 

$

 -

 

$

3,588 

 

$

3,588 







 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

(Dollars in Thousands)

Fair Value at December 31, 2015

Asset  Description

Level 1

 

Level 2

 

Level 3

 

Total

Premises held-for-sale (1)

$

 -

 

$

 -

 

$

225 

 

$

225 

Other real estate owned (1)

 

 -

 

 

 -

 

 

6,128 

 

 

6,128 

Total assets

$

 -

 

$

 -

 

$

6,353 

 

$

6,353 

(1)

Includes assets directly charged-down to fair value during the year-to-date period.

Fair Value Inputs, Assets, Quantitative Information



 

 

 

 

 

 

 

 

 



 

 

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in Thousands)

 

 

at June 30, 2016



 

 

 

 

 

 

 

 

Range

Asset  Description

 

 

Fair Value

 

Valuation Technique

 

Unobservable Input

 

(Weighted Average)

Impaired loans (1)

 

$

3,363 

 

Appraisal

 

Appraisal Adjustments (2)

 

100%  (100%)



 

 

 

 

 

 

Cost to sell

 

8%  (8%)



 

 

 

 

 

 

 

 

 

Other real estate owned (1)

 

 

225 

 

Appraisal

 

Cost to sell

 

8%  (8%)



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

at December 31, 2015

Premises held-for-sale (1)

 

$

225 

 

Appraisal

 

 -

 

 -

Other real estate owned (1)

 

 

6,128 

 

Appraisal

 

Cost to sell

 

8%  (8%)



 

 

 

 

 

 

 

 

 

(1) Includes assets directly charged-down to fair value during the year-to-date period.

 

 

(2) Qualitative adjustments are discounts specific to each asset and are made as needed.