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Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

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

Assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and 2012 are summarized as follows:

		Fair Value Measurement Using
December 31, 2013		Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-agencies		$	204							$	204
U.S. Government-sponsored enterprises			113,045								113,045
State and Municipals:
Taxable			16,698								16,698
Tax-exempt			98,081								98,081
Corporate debt securities			4,387								4,387
Mortgage-backed securities:
U.S. Government agencies			20,229								20,229
U.S. Government-sponsored enterprises			45,974								45,974
Common equity securities			1,097			$	1,097
Total		$	299,715			$	1,097			$	298,618
		Fair Value Measurement Using
December 31, 2012		Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-agencies
U.S. Government-sponsored enterprises		$	84,682							$	84,682
State and Municipals:
Taxable
Tax-exempt			58,837								58,837
Corporate debt securities
Mortgage-backed securities:
U.S. Government agencies
U.S. Government-sponsored enterprises			16,801								16,801
Common equity securities			1,071			$	1,071
Total		$	161,391			$	1,071			$	160,320

Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

Assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2013 and 2012 are summarized as follows:

		Fair Value Measurement Using
December 31, 2013		Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans		$	2,354							$	2,354
Other real estate owned		$	437							$	437
		Fair Value Measurement Using
December 31, 2012		Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans		$	2,637							$	2,637
Other real estate owned		$	237							$	237

Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:

Quantitative Information about Level 3 Fair Value Measurements

December 31, 2013

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Weighted Average)

Impaired loans

$

2,354

Appraisal of collateral

Appraisal adjustments

11.0% to 33.7% (17.3%)

Liquidation expenses

3.0% to 6.0% (5.0%)

Other real estate owned

$

437

Appraisal of collateral

Appraisal adjustments

11.0% to 33.7% (17.3%)

Liquidation expenses

3.0% to 6.0% (5.0%)

Quantitative Information about Level 3 Fair Value Measurements

December 31, 2012

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Weighted Average)

Impaired loans

$

2,637

Appraisal of collateral

Appraisal adjustments

11.0% to 33.7% (17.3%)

Liquidation expenses

3.0% to 6.0% (5.0%)

Other real estate owned

$

237

Appraisal of collateral

Appraisal adjustments

11.0% to 33.7% (17.3%)

Liquidation expenses

3.0% to 6.0% (5.0%)

Carrying and Fair Values of Financial Instruments

The carrying and fair values of the Company’s financial instruments at December 31, 2013 and 2012 and their placement within the fair value hierarchy are as follows:

										Fair Value Hierarchy
December 31, 2013		Carrying Value				Fair Value				Quoted Prices in Active Markets for Identical Assets (level 1)				Significant Other Observable Inputs (level 2)				Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents		$	51,310			$	51,310			$	51,310
Investment securities:
Available-for-sale			299,715				299,715			$	1,097			$	298,618
Held-to-maturity			17,295				17,175								17,175
Loans held for sale			1,757				1,757								1,757
Net loans			1,167,966				1,180,387											$	1,180,387
Accrued interest receivable			5,866				5,866								5,866
Mortgage servicing rights			880				1,440								1,440
Restricted equity securities			4,102				4,102								4,102
Total		$	1,548,891			$	1,561,752
Financial liabilities:
Deposits		$	1,379,507			$	1,381,946								1,381,946
Short-term borrowings			22,052				22,052								22,052
Long-term debt			36,743				37,468								37,468
Accrued interest payable			723				723							$	723
Total		$	1,439,025			$	1,442,189

December 31, 2012		Carrying Value				Fair Value				Fair Value Hierarchy
										Quoted Prices in Active Markets for Identical Assets (level 1)				Significant Other Observable Inputs (level 2)				Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents		$	47,844			$	47,844			$	47,844
Investment securities:
Available-for-sale			161,391				161,391			$	1,071			$	160,320
Held-to-maturity			15,902				16,774								16,774
Loans held for sale
Net loans			616,580				627,712											$	627,712
Accrued interest receivable			2,862				2,862								2,862
Mortgage servicing rights			491				879								879
Restricted equity securities			4,212				4,212								4,212
Total		$	849,282			$	861,674
Financial liabilities:
Deposits		$	721,948			$	724,771								724,771
Short-term borrowings			8,019				8,019								8,019
Long-term debt			45,397				48,625								48,625
Accrued interest payable			716				716							$	716
Total		$	776,080			$	782,131

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Schedule Of Assets And Liabilities Measured At Fair Value On Non Recurring Basis Table [Text Block]

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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.

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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

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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).

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