Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015:

			Fair Value Measurements at
			June 30, 2016
			Using
	Balance as of		Quoted Prices in  Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	June 30, 2016		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	30,899	$	—	$	30,899	$	—
Mortgage-backed securities	29,894		—		29,894		—
Obligations of states and political subdivisions	41,989		—		41,340		649
Total assets at fair value	$	102,782	$	—	$	102,133	$	649
Liabilities:
Interest rate swap	$	78	—		$	78	—
Total liabilities at fair value	$	78	$	—	$	78	$	—
			Fair Value Measurements at
			December 31, 2015
			Using
	Balance as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	December 31, 2015		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
Assets:
Securities available for sale
Obligations of U.S. government corporations and agencies	$	37,665	$	—	$	37,665	$	—
Mortgage-backed securities	28,931		—		28,931		—
Obligations of states and political subdivisions	39,227		—		38,543		684
Total assets at fair value	$	105,823	$	—	$	105,139	$	684
Liabilities:
Interest rate swap	$	149	—		$	149	—
Total liabilities at fair value	$	149	$	—	$	149	$	—

Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets

The following table displays quantitative information about Level 3 Fair Value Measurements for certain financial assets measured at fair value on a nonrecurring basis at June 30, 2016 and December 31, 2015:

	Quantitative information about Level 3 Fair Value Measurements for
	June 30, 2016
	Valuation Technique(s)	Unobservable Input	Range	Weighted Average
Assets:
Impaired loans	Discounted appraised value	Selling cost	12%	12%
Impaired loans	Present value of cash flows	Discount rate	3% - 8%	5%
Other real estate owned	Discounted appraised value	Selling cost	2% - 6%	5%
	December 31, 2015
	Valuation Technique(s)	Unobservable Input	Range	Weighted Average
Impaired loans	Discounted appraised value	Selling cost	12%	12%
Impaired loans	Present value of cash flows	Discount rate	3% - 8%	5%
Other real estate owned	Discounted appraised value	Selling cost	2% - 6%	5%

Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis

The following table summarizes the Company’s financial and nonfinancial assets that were measured at fair value on a nonrecurring basis at June 30, 2016 and December 31, 2015:

			Fair Value at
			June 30, 2016
	Balance as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	June 30, 2016		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	4,988	$	—	$	—	$	4,988
Nonfinancial Assets:
Other real estate owned	524		—		—		524
			Fair Value at
			December 31, 2015
	Balance as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	December 31, 2015		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
Financial Assets:
Impaired loans	$	5,099	$	—	$	—	$	5,099
Nonfinancial Assets:
Other real estate owned	571		—		—		571

Company's Financial Instruments

The carrying value and fair value of the Company’s financial instruments at June 30, 2016 and December 31, 2015 were as follows:

	Fair Value Measurements at
	June 30, 2016
	Using
	Carrying Value as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs		Fair Value as of
	June 30, 2016		(Level 1)		(Level 2)		(Level 3)		June 30, 2016
	(in thousands)
Financial Assets:
Cash and short-term investments	$	29,594	$	29,594	$	—	$	—	$	29,594
Securities	102,782		—		102,133		649		102,782
Restricted Investments	1,918		—		1,918		—		1,918
Loans, net	512,434		—		—		515,612		515,612
Bank owned life insurance	632		—		632		—		632
Accrued interest receivable	1,760		—		1,760		—		1,760
Financial Liabilities:
Deposits	$	571,229	$	—	$	571,060	$	—	$	571,060
Federal Home Loan Bank advances	20,000		—		20,058		—		20,058
Accrued interest payable	58		—		58		—		58
Interest rate swap contract	78		—		78		—		78

	Fair Value Measurements at
	December 31, 2015
	Using
	Carrying Value as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs		Fair Value as of
	December 31, 2015		(Level 1)		(Level 2)		(Level 3)		December 31, 2015
	(in thousands)
Financial assets:
Cash and short-term investments	$	23,221	$	23,221	$	—	$	—	$	23,221
Securities	105,823		—		105,139		684		105,823
Restricted Investments	1,896		—		1,896		—		1,896
Loans, net	490,614		—		—		493,804		493,804
Bank owned life insurance	632		—		632		—		632
Accrued interest receivable	1,739		—		1,739		—		1,739
Financial liabilities:
Deposits	$	550,718	$	—	$	550,509	$	—	$	550,509
Federal Home Loan Bank advances	20,000		—		19,992		—		19,992
Accrued interest payable	66		—		66		—		66
Interest rate swap contract	149		—		149		—		149