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Note 9 - Fair Value Measurements and Disclosures (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]


June 30, 2013		Quoted prices in active markets for identical assets (Level 1)				Significant other observable input (Level 2)				Significant unobservable inputs (Level 3)				Balance at end of period
Recurring fair value measurements
Securities available-for-sale
U.S. Government agency securities			-			$	70,474				-			$	70,474
State and municipal securities			-				86,715				-				86,715
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed securities			-				126,945				-				126,945
Collateralized mortgage obligations (CMOs)			-				85,678				-				85,678
Pooled trust preferred securities			-				-			$	2,091				2,091
Corporate debt securities			-				3,991				-				3,991
Equity securities		$	4,470				-				-				4,470
Total securities available-for-sale		$	4,470			$	373,803			$	2,091			$	380,364
Total recurring fair value measurements		$	4,470			$	373,803			$	2,091			$	380,364

Nonrecurring fair value measurements
Impaired loans			-				-			$	5,612			$	5,612
Mortgage servicing rights			-				-				504				504
Loans held-for-sale			-			$	1,328				-				1,328
Other real estate owned		$	110				-				-				110
Total nonrecurring fair value measurements		$	110			$	1,328			$	6,116			$	7,554


December 31, 2012		Quoted prices in active markets for identical assets (Level 1)				Significant other observable input (Level 2)				Significant unobservable inputs (Level 3)				Balance at end of period
Recurring fair value measurements
Securities available-for-sale
U.S. Government agency securities			-			$	104,130				-			$	104,130
State and municipal securities			-				86,789				-				86,789
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed securities			-				107,973				-				107,973
Collateralized mortgage obligations (CMOs)			-				94,091				-				94,091
Pooled trust preferred securities			-				-			$	1,962				1,962
Corporate debt securities			-				2,502				-				2,502
Equity securities		$	4,055				-				-				4,055
Total securities available-for-sale		$	4,055			$	395,485			$	1,962			$	401,502
Total recurring fair value measurements		$	4,055			$	395,485			$	1,962			$	401,502

Nonrecurring fair value measurements
Impaired loans		$	-			$	-			$	5,832			$	5,832
Mortgage servicing rights			-				-				448				448.00
Total nonrecurring fair value measurements		$	-			$	-			$	6,280			$	6,280

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]


		Quantitative information about Level 3 fair value measurements
June 30, 2013		Fair value			Valuation techniques	Unobservable input		Value or range of values
Impaired loans		$	5,612		Appraisal of collateral (1)	Appraisal adjustments (2)		0%	to	-30%
						Liquidation expenses (2)		0%	to	-10%
Mortgage servicing rights (yrs)		$	504		Discounted cash flow	Remaining term		1	-	30
						Discount rate		10%	to	12%

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]


		Fair value measurements using significant unobservable inputs (Level 3)
Balance, beginning of year		$	1,962
Settlements			-
Total gains or losses (realized/unrealized)
Included in earnings			-
Included in other comprehensive income			129
Transfers in and/or out of Level 3			-
Balance, June 30, 2013		$	2,091

Fair Value, by Balance Sheet Grouping [Table Text Block]


										Fair value measurements
June 30, 2013		Carrying amount				Fair value				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Financial assets
Cash and cash equivalents		$	15,897			$	15,897			$	15,897				-				-
Investment securities available-for-sale			380,364				380,364				4,470			$	373,803			$	2,091
Investment securities held-to-maturity			146				163				-				163				-
Restricted investment in bank stocks			1,837				1,837				1,837				-				-
Loans held-for-sale			1,328				1,328				-				1,328				-
Net loans			479,784				481,469				-				-				481,469
Mortgage servicing rights			504				576				-				-				576
Accrued interest receivable			2,981				2,981				-				2,981				-

Financial liabilities
Deposits with no stated maturities		$	542,740			$	542,740			$	542,740				-			$	-
Deposits with stated maturities			253,173				256,933				-			$	256,933				-
Short-term borrowings			32,851				32,851				32,851				-				-
Long-term debt			5,282				5,412				-				5,412				-
Accrued interest payable			407				407				-				407				-

Off-balance sheet instruments
Commitments to extend credit		$	-			$	-			$	-			$	-			$	-
Standby letters of credit			-				-				-				-				-


										Fair value measurements
December 31, 2012		Carrying amount				Fair value				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)
Financial assets
Cash and cash equivalents		$	15,453			$	15,453			$	15,453				-				-
Investment securities available-for-sale			401,502				401,502				4,055			$	395,485			$	1,962
Investment securities held-to-maturity			146				166				-				166				-
Restricted investment in bank stocks			2,244				2,244				2,244				-				-
Loans held-for-sale			1,616				1,674				-				1,674				-
Net loans			467,961				474,330				-				-				474,330
Mortgage servicing rights			448				464				-				-				464
Accrued interest receivable			2,803				2,803				-				2,803				-

Financial liabilities
Deposits with no stated maturities		$	532,404			$	532,404			$	532,404				-			$	-
Deposits with stated maturities			269,234				273,878				-			$	273,878				-
Short-term borrowings			32,488				32,488				32,488				-				-
Long-term debt			5,287				5,694				-				5,694				-
Accrued interest payable			487				487				-				487				-

Off-balance sheet instruments
Commitments to extend credit		$	-			$	-			$	-			$	-			$	-
Standby letters of credit			-				-				-				-				-

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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