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Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities recorded at fair value on a recurring basis are as follows (in thousands):

		Balance as of June 30, 2016				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Debt securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	12,743			$	—			$	12,743			$	—
Mortgage-backed securities		124,814				—				124,814				—
Municipal securities		5,318				—				5,318				—
Total securities available-for-sale		$	142,875			$	—			$	142,875			$	—

		Balance as of December 31, 2015				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Debt securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)		$	22,743			$	—			$	22,743			$	—
Mortgage-backed securities:		136,021				—				136,021				—
Municipal securities		7,649				—				7,649				—
Total securities available-for-sale		$	166,413			$	—			$	166,413			$	—

Fair Value, Assets and Liabilities Measured on Non-Recurring Basis

The tables below present information about assets and liabilities on the balance sheet at June 30, 2016 and December 31, 2015 which are measured at fair value on a nonrecurring basis.

		Balance as of June 30, 2016				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Impaired loans		$	189			$	—			$	—			$	189
Foreclosed assets		4,936				—				—				4,936

Note 7. Fair Value Disclosures, Continued

Fair Value Hierarchy (Continued):

		Balance as of December 31, 2015				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Impaired loans		$	160			$	—			$	—			$	160
Foreclosed assets		5,358				—				—				5,358

Fair Value, Assets Measured On Non-Recurring Basis, Unobservable Input Reconciliation

For Level 3 assets measured at fair value on a non-recurring basis as of June 30, 2016, the significant unobservable inputs used in the fair value measurements are presented below (in thousands).

		Balance as of June 30, 2016				Valuation Technique		Significant Other Unobservable Input		Weighted Average of Input
Impaired loans		$	189			Appraisal		Appraisal Discounts		15.0	%
Foreclosed assets		4,936				Appraisal		Appraisal Discounts		24.4	%

Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value of the Company’s financial instruments at June 30, 2016 and December 31, 2015 are as follows (in thousands):

		June 30, 2016								December 31, 2015
		Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents		$	71,737			$	71,737			$	79,965			$	79,965
Securities available for sale		142,875				142,875				166,413				166,413
Restricted investments		4,451				4,451				4,451				4,451
Loans, net		768,676				781,411				723,361				721,338
Liabilities:
Noninterest-bearing demand deposits		145,864				145,864				131,419				131,419
Interest-bearing demand deposits		153,166				153,166				149,424				149,424
Money Market and Savings deposits		258,281				258,281				236,901				236,901
Time deposits		331,438				333,350				340,739				342,873
Securities sold under agreements to repurchase		26,883				26,883				28,068				28,068
Federal Home Loan Bank advances and other borrowings		10,091				10,096				34,187				34,169

X

- Definition

Tabular disclosure of the fair value measurement of assets on non-recurring basis 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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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611

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-Section 50
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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