Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

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

For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy are as follows:

(Dollar amounts in thousands)			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
September 30, 2013:
U.S. Treasury and federal agency	$	4,248	$	4,248	$	-	$	-
U.S. government sponsored entities and agencies		23,044		-		23,044		-
Mortgage-backed securities: residential		12,859		-		12,859		-
Collateralized mortgage obligations: residential		42,552		-		42,552		-
State and political subdivision		39,935		-		39,935		-
Corporate debt securities		240		-		240		-
Equity securities		2,447		1,795		-		652
	$	125,325	$	6,043	$	118,630	$	652

December 31, 2012:
U.S. Treasury and federal agency	$	3,967	$	3,967	$	-	$	-
U.S. government sponsored entities and agencies		28,162		-		28,162		-
Mortgage-backed securities: residential		22,724		-		22,724		-
Collateralized mortgage obligations: residential		22,475		-		22,475		-
State and political subdivision		36,765		-		36,765		-
Corporate debt securities		3,761		-		3,761		-
Equity securities		2,352		1,699		-		653
	$	120,206	$	5,666	$	113,887	$	653

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

The following table presents changes in Level 3 assets measured on a recurring basis for the three and nine month periods ended September 30, 2013 and 2012:

(Dollar amounts in thousands)	Three months ended				Nine months ended
	September 30,				September 30,
	2013		2012		2013		2012
Balance at the beginning of the period	$	653	$	-	$	653	$	-
Total gains or losses (realized/unrealized):		-		-		-		-
Included in earnings		-		-		-		-
Included in other comprehensive income		(1)		-		(1)		-
Issuances		-		-		-		-
Transfers in and/or out of Level 3		-		653		-		653
Balance at the end of the period	$	652	$	653	$	652	$	653

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

For assets measured at fair value on a non-recurring basis, the fair value measurements by level within the fair value hierarchy are as follows:

(Dollar amounts in thousands)			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
September 30, 2013:
Impaired commercial real estate loans	$	2,483	$	-	$	-	$	2,483
Other residential real estate owned		35		-		-		35
	$	2,518	$	-	$	-	$	2,518
December 31, 2012:
Impaired commercial real estate loans	$	2,620	$	-	$	-	$	2,620
Other residential real estate owned		45		-		-		45
	$	2,665	$	-	$	-	$	2,665

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

The following table presents quantitative information about Level 3 fair value measurements for assets measured at fair value on a non-recurring basis:

(Dollar amounts in thousands)

Valuation

Unobservable

Techniques(s)

Input (s)

Range

September 30, 2013:

Impaired commercial real estate loans

2,483

Sales comparison approach/

Adjustment for differences

0% - 10%

Contractual provision of USDA loan

between comparable sales

Other residential real estate owned

Sales comparison approach

Adjustment for differences

10%

between comparable sales

December 31, 2012:

Impaired commercial real estate loans

2,620

Sales comparison approach/

Adjustment for differences

10% - 25%

Contractual provision of USDA loan

between comparable sales

Other residential real estate owned

Sales comparison approach

Adjustment for differences

10%

between comparable sales

Schedule Of Carrying Amount and Fair Values Of Financial Instruments [Table Text Block]

The following table sets forth the carrying amount and estimated fair values of the Corporation’s financial instruments included in the consolidated balance sheet as of September 30, 2013 and December 31, 2012:

(Dollar amounts in thousands)
	Carrying		Fair Value Measurements using:
Description	Amount		Total		Level 1		Level 2		Level 3
September 30, 2013:
Financial Assets:
Cash and cash equivalents	$	14,636	$	14,636	$	14,636	$	-	$	-
Securities available for sale		125,325		125,325		6,043		118,630		652
Loans, net		347,729		352,256		-		-		352,256
Federal bank stock		3,707		N/A		N/A		N/A		N/A
Accrued interest receivable		1,607		1,607		33		484		1,090
		493,004		493,824		20,712		119,114		353,998
Financial Liabilities:
Deposits		429,442		431,120		321,797		109,323		-
Borrowed funds		46,650		47,834		-		47,834		-
Accrued interest payable		305		305		4		301		-
		476,397		479,259		321,801		157,458		-

	Carrying		Fair Value Measurements using:
	Amount		Total		Level 1		Level 2		Level 3
December 31, 2012:
Financial Assets:
Cash and cash equivalents	$	20,424	$	20,424	$	20,424	$	-	$	-
Securities available for sale		120,206		120,206		5,666		113,887		653
Loans, net		333,801		340,840		-		-		340,840
Federal bank stock		2,885		N/A		N/A		N/A		N/A
Accrued interest receivable		1,533		1,533		23		383		1,127
		478,849		483,003		26,113		114,270		342,620
Financial Liabilities:
Deposits		432,459		436,279		300,805		135,474		-
FHLB advances		20,000		22,613		-		22,613		-
Accrued interest payable		442		442		55		387		-
		452,901		459,334		300,860		158,474		-

- Definition

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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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

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- Definition

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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