Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Assets and Liabilities Recorded at Fair Value on a Recurring Basis

The tables below present the recorded amount of assets as of September 30, 2014 and December 31, 2013 measured at fair value on a recurring basis.



(dollars in thousands)	September 30, 2014
Description of Asset	Fair Value	Level 1	Level 2	Level 3
Available for sale securities
Asset-backed securities issued by GSEs
CMOs	$ 39,033	$ -	$ 39,033	$ -
MBS	44	-	44	-
Corporate equity securities	40	-	40	-
Bond mutual funds	4,261	-	4,261	-
Total available for sale securities	$ 43,378	$ -	$ 43,378	$ -



(dollars in thousands)	December 31, 2013
Description of Asset	Fair Value	Level 1	Level 2	Level 3
Available for sale securities
Asset-backed securities issued by GSEs
CMOs	$ 43,883	$ -	$ 43,883	$ -
MBS	193	-	193	-
Corporate equity securities	41	-	41	-
Bond mutual funds	4,130	-	4,130	-
Total available for sale securities	$ 48,247	$ -	$ 48,247	$ -



(dollars in thousands)	September 30, 2014
Description of Asset	Fair Value	Level 1	Level 2	Level 3
Loans with impairment
Commercial real estate	$ 4,196	$ -	$ 4,196	$ -
Residential first mortgages	441	-	441	-
Construction and land development	4,173	-	4,173	-
Home equity and second mtg.	14	-	14	-
Commercial loans	311	-	311	-
Commercial equipment	77	-	77	-
Total loans with impairment	$ 9,212	$ -	$ 9,212	$ -

Other real estate owned	$ 6,334	$ -	$ 6,334	$ -



(dollars in thousands)	December 31, 2013
Description of Asset	Fair Value	Level 1	Level 2	Level 3
Loans with impairment
Commercial real estate	$ 3,527	$ -	$ 3,527	$ -
Residential first mortgage	535	-	535	-
Construction and land development	4,122	-	4,122	-
Commercial loans	617	-	617	-
Total loans with impairment	$ 8,801	$ -	$ 8,801	$ -

Other real estate owned	$ 6,797	$ -	$ 6,797	$ -