Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value [Abstract]

Balances of Assets And Liabilities Measured at Fair Value on Recurring Basis

	March 31, 2015
(In thousands)	Level 1		Level 2		Level 3		Total
Securities available for sale:
U.S. Government sponsored entities	$	-	$	4,528	$	-	$	4,528
State and political subdivisions		-		11,163		-		11,163
Residential mortgage-backed securities		-		32,312		-		32,312
Corporate and other securities		-		9,872		-		9,872
Total securities available for sale	$	-	$	57,875	$	-	$	57,875
	December 31, 2014
(In thousands)	Level 1		Level 2		Level 3		Total
Securities available for sale:
U.S. Government sponsored entities	$	-	$	4,618	$	-	$	4,618
State and political subdivisions		-		11,132		-		11,132
Residential mortgage-backed securities		-		34,383		-		34,383
Corporate and other securities		-		9,940		-		9,940
Total securities available for sale	$	-	$	60,073	$	-	$	60,073

Schedule of Fair Value Changes In Level 3

	For the three months ended March 31,
(In thousands)	2015		2014
Commercial mortgage-backed securities:
Balance, beginning of period	$	-	$	888
Payoffs		-		(291)
Principal paydowns		-		(96)
Total net losses included in:
Other comprehensive income		-		(2)
Balance, end of period	$	-	$	499

Assets and Liabilities Carried on the Balance Sheet by Caption And By Level Within The Hierarchy

	Fair value at March 31, 2015
(In thousands)	Level 1		Level 2		Level 3		Total
Financial assets:
OREO	$	-	$	-	$	1,975	$	1,975
Impaired collateral-dependent loans		-		-		8,907		8,907
	Fair value at December 31, 2014
(In thousands)	Level 1		Level 2		Level 3		Total
Financial assets:
OREO	$	-	$	-	$	1,162	$	1,162
Impaired collateral-dependent loans		-		-		4,897		4,897

Carrying Amount and Estimated Fair Values of Financial Instruments

			March 31, 2015				December 31, 2014
(In thousands)	Fair value level		Carrying amount		Estimated fair value		Carrying amount		Estimated fair value
Financial assets:
Cash and cash equivalents		Level 1	$	133,845	$	133,845	$	129,821	$	129,821
Securities (1)		Level 2		77,308		77,646		80,082		80,354
SBA loans held for sale		Level 2		6,929		7,713		5,179		5,655
Loans, net of allowance for loan losses (2)		Level 2		765,532		772,307		744,095		748,093
FHLB stock		Level 2		7,382		7,382		6,032		6,032
Servicing assets		Level 3		767		767		753		753
Accrued interest receivable		Level 2		3,637		3,637		3,518		3,518
OREO		Level 3		1,975		1,975		1,162		1,162
Financial liabilities:
Deposits		Level 2		789,441		790,499		794,341		794,436
Borrowed funds and subordinated debentures		Level 2		170,465		174,986		140,465		145,333
Accrued interest payable		Level 2		478		478		474		474

(1)	Includes held to maturity (“HTM”) commercial mortgage-backed securities that are considered Level 3. These securities had book values of $4.0 million at March 31, 2015 and December 31, 2014, and market values of $4.0million at March 31, 2015 and December 31, 2014.
(2)	Includes collateral-dependent impaired loans that are considered Level 3 and reported separately in the tables under the “Fair Value on a Nonrecurring Basis” heading. Collateral-dependent impaired loans, net of specific reserves totaled $8.9 million and $4.9 million at March 31, 2015 and December 31, 2014, respectively.