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Off-Balance Sheet Loan Commitments | 3 Months Ended
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Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract] |
Off-Balance Sheet Loan Commitments | NOTE 9 - OFF-BALANCE SHEET LOAN COMMITMENTS From time to time, the Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The contractual amounts of financial instruments with off-balance sheet risk were as follows:
|  | March 31, 2016 |  |  | December 31, 2015 |
(Dollars in thousands) |  | Fixed Rate |  |  | Variable Rate |  |  | Fixed Rate |  |  | Variable Rate |
Commitments to make loans |  | $ | 35,075 |  |  | $ | 739 |  |  | $ | 6,571 |  |  | $ | 2,949 |
Unused lines of credit |  |  | 39,326 |  |  |  | 90,648 |  |  |  | 35,514 |  |  |  | 81,189 |
Standby letters of credit |  |  | 1,050 |  |  |  | 2,212 |  |  |  | 1,030 |  |  |  | 1,999 |
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being fully drawn upon, the total commitment amounts disclosed above do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if considered necessary by the Company, upon extension of credit is based on management’s credit evaluation of the customer. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. In the event of nonperformance by the customer, the Company has rights to the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. The credit risk to the Company in issuing letters of credit is essentially the same as that involved in extending loan facilities to its customers.

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