XML 67 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 7 - Fair Value of Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
   

June 30, 2013

 
   

Fair Value Measurements Using

   

Assets at Fair

 

(Dollars in thousands)  

 

Level 1

   

Level 2

   

Level 3

     

Value

 

Assets:

                               

Securities available for sale

                               

U.S. government agencies and corporations

  $     $ 21,759     $     $ 21,759  

Mortgage-backed securities

          3,155             3,155  

Obligations of states and political subdivisions

          122,416             122,416  

Preferred stock

          258             258  

Total securities available for sale

          147,588             147,588  

Loans held for sale

          59,312             59,312  

Interest rate lock commitments

          1,011             1,011  

Forward sales commitments

          303             303  

Total assets

  $     $ 208,214     $     $ 208,214  

Liabilities:

                               

Derivative liability - cash flow hedges

  $     $ 397     $     $ 397  
   

December 31, 2012

 
   

Fair Value Measurements Using

   

Assets at Fair

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

     

Value

 

Assets: 

                               

Securities available for sale

                               

U.S. government agencies and corporations

  $     $ 24,649     $     $ 24,649  

Mortgage-backed securities

          2,189             2,189  

Obligations of states and political subdivisions

          125,875             125,875  

Preferred stock

          104             104  

Total securities available for sale

  $     $ 152,817     $     $ 152,817  

Liabilities:

                               

Derivative liability - cash flow hedges

  $     $ 513     $     $ 513  
Fair Value Measurements, Nonrecurring [Table Text Block]
   

June 30, 2013

 
   

Fair Value Measurements Using

   

Assets at Fair

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

     

Value

 

Impaired loans, net

  $     $     $ 2,617     $ 2,617  

Other real estate owned, net

                3,925       3,925  
   

December 31, 2012

 
   

Fair Value Measurements Using

   

Assets at Fair

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

     

Value

 

Impaired loans, net

  $     $     $ 9,074     $ 9,074  

Other real estate owned, net

                6,236       6,236  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
   

Fair Value Measurements at June 30, 2013

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Impaired loans, net

    2,617      

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

   5%  - 40%  

Other real estate owned, net

    3,925      

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

   0%  -  50%  
Fair Value, by Balance Sheet Grouping [Table Text Block]
           

Fair Value Measurements at June 30, 2013 Using

 

(Dollars in thousands)

 

Carrying Value

   

Level 1

   

Level 2

   

Level 3

   

Total Fair Value

 

Financial assets:

                                       

Cash and short-term investments

  $ 59,833     $ 59,833     $     $     $ 59,833  

Securities available for sale

    147,588               147,588               147,588  

Loans, net

    638,557                   649,453       649,453  

Loans held for sale, net

    59,312             59,312             59,312  

Derivative assets

    1,314             1,314       ---       1,314  

Accrued interest receivable

    5,545       5,545                   5,545  

Financial liabilities:

                                       

Demand deposits

  $ 412,867     $ 412,867     $     $     $ 412,867  

Time deposits

    280,930             284,626             284,626  

Borrowings

    167,138             159,950             159,950  

Derivative liability

    397             397             397  

Accrued interest payable

    786       786                   786  
           

Fair Value Measurements at December 31, 2012 Using

 

(Dollars in thousands)

 

Carrying Value

   

Level 1

   

Level 2

   

Level 3

   

Total Fair Value

 

Financial assets:

                                       

Cash and short-term investments

  $ 25,620     $ 25,620     $     $     $ 25,620  

Securities available for sale

    152,817               152,817               152,817  

Loans, net

    640,283                   651,133       651,133  

Loans held for sale, net

    72,727             74,964             74,964  

Accrued interest receivable

    5,673       5,673                   5,673  

Financial liabilities:

                                       

Demand deposits

  $ 399,575     $ 399,575     $     $     $ 399,575  

Time deposits

    286,609             290,483             290,483  

Borrowings

    162,746             158,027             158,027  

Derivative liability

    513               513               513  

Accrued interest payable

    837       837                   837