XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.6.0.2

FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Fair Value Disclosures [Abstract] |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | For assets measured at fair value, the fair value measurements by level within the fair value hierarchy, and the basis of measurement used at December 31, 2016 and 2015, are as follows:
|  |  | Fair Value Measurements at December 31, 2016
In thousands | Basis |  | Total |  | Level 1 |  | Level 2 |  | Level 3
U.S. Government and agencies |  |  | $ | 79,579 |  |  | $ | — |  |  | $ | 79,579 |  |  | $ | — |
Mortgage-backed securities, residential |  |  | 31,973 |  |  | — |  |  | 31,973 |  |  | — |
State and municipal |  |  | 24,660 |  |  | — |  |  | 24,660 |  |  | — |
Corporate bonds |  |  | 5,062 |  |  | — |  |  | 5,062 |  |  | — |
CRA mutual fund |  |  | 1,035 |  |  | 1,035 |  |  | — |  |  | — |
Stock in other banks |  |  | 681 |  |  | 681 |  |  | — |  |  | — |
Total securities available for sale | Recurring |  | $ | 142,990 |  |  | $ | 1,716 |  |  | $ | 141,274 |  |  | $ | — |
Impaired loans | Non-recurring |  | $ | 4,406 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,406 |
Foreclosed assets held for resale | Non-recurring |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  | Fair Value Measurements at December 31, 2015
In thousands | Basis |  | Total |  | Level 1 |  | Level 2 |  | Level 3
U.S. Government and agencies |  |  | $ | 46,029 |  |  | $ | — |  |  | $ | 46,029 |  |  | $ | — |
Mortgage-backed securities, residential |  |  | 42,839 |  |  | — |  |  | 42,839 |  |  | — |
State and municipal |  |  | 28,078 |  |  | — |  |  | 28,078 |  |  | — |
Corporate bonds |  |  | 6,955 |  |  | — |  |  | 6,955 |  |  | — |
CRA mutual fund |  |  | 1,053 |  |  | 1,053 |  |  | — |  |  | — |
Stock in other banks |  |  | 739 |  |  | 739 |  |  | — |  |  | — |
Total securities available for sale | Recurring |  | $ | 125,693 |  |  | $ | 1,792 |  |  | $ | 123,901 |  |  | $ | — |
Impaired loans | Non-recurring |  | $ | 4,451 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,451 |
Foreclosed assets held for resale | Non-recurring |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Fair Value Inputs, Assets, Quantitative Information | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value:
|  | Quantitative Information about Level 3 Fair Value Measurements
Dollars in thousands |  | Fair Value Estimate |  | Valuation Technique |  | Unobservable Input |  |  | Range |  | Weighted Average
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 4,406 |  |  | Appraisal of collateral | (1) | Appraisal adjustments | (2) |  | (10) - (50)% |  | (39 | )%
Foreclosed assets held for resale |  | $ | — |  |  | Appraisal of collateral | (1) (3) | Appraisal adjustments | (2) |  | (10) - (50)% |  | — | %
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 4,451 |  |  | Appraisal of collateral | (1) | Appraisal adjustments | (2) |  | (10) - (50)% |  | (16 | )%
Foreclosed assets held for resale |  | $ | — |  |  | Appraisal of collateral | (1) (3) | Appraisal adjustments | (2) |  | (10) - (50)% |  | — | %
(1) | Fair value is generally determined through management’s estimate or independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.
(2) | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received, or age of the appraisal.
(3) | Includes qualitative adjustments by management and estimated liquidation expenses.
Fair Value, by Balance Sheet Grouping | The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments at December 31, 2016 and 2015:
| December 31, 2016
In thousands | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 13,796 |  |  | $ | 13,796 |  |  | $ | 6,921 |  |  | $ | 6,875 |  |  | $ | — |
Interest-bearing deposits in banks | 5,135 |  |  | 5,135 |  |  | 5,135 |  |  | — |  |  | — |
Investment securities available for sale | 142,990 |  |  | 142,990 |  |  | 1,716 |  |  | 141,274 |  |  | — |
Investment securities held to maturity | 55,568 |  |  | 55,425 |  |  | — |  |  | 55,425 |  |  | — |
Loans held for sale | 1,770 |  |  | 1,770 |  |  | — |  |  | 1,770 |  |  | — |
Loans, less allowance for loan losses | 893,176 |  |  | 888,169 |  |  | — |  |  | — |  |  | 888,169 |
Accrued interest receivable | 3,158 |  |  | 3,158 |  |  | — |  |  | 3,158 |  |  | — |
Restricted investment in bank stocks | 4,349 |  |  | 4,349 |  |  | — |  |  | 4,349 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | 967,621 |  |  | 967,236 |  |  | — |  |  | 967,236 |  |  | — |
Short-term borrowings | 34,590 |  |  | 34,590 |  |  | — |  |  | 34,590 |  |  | — |
Long-term borrowings | 74,250 |  |  | 75,029 |  |  | — |  |  | 75,029 |  |  | — |
Accrued interest payable | 837 |  |  | 837 |  |  | — |  |  | 837 |  |  | — |
Off-balance sheet financial instruments | — |  |  | — |  |  | — |  |  | — |  |  | — |
| December 31, 2015
In thousands | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 13,468 |  |  | $ | 13,468 |  |  | $ | 6,746 |  |  | $ | 6,722 |  |  | $ | — |
Interest-bearing deposits in banks | 5,289 |  |  | 5,289 |  |  | 5,289 |  |  | — |  |  | — |
Investment securities available for sale | 125,693 |  |  | 125,693 |  |  | 1,792 |  |  | 123,901 |  |  | — |
Investment securities held to maturity | 71,542 |  |  | 71,363 |  |  | — |  |  | 71,363 |  |  | — |
Loans held for sale | 1,835 |  |  | 1,835 |  |  | — |  |  | 1,835 |  |  | — |
Loans, less allowance for loan losses | 838,213 |  |  | 842,169 |  |  | — |  |  | — |  |  | 842,169 |
Accrued interest receivable | 3,016 |  |  | 3,016 |  |  | — |  |  | 3,016 |  |  | — |
Restricted investment in bank stocks | 4,414 |  |  | 4,414 |  |  | — |  |  | 4,414 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | 912,980 |  |  | 913,188 |  |  | — |  |  | 913,188 |  |  | — |
Short-term borrowings | 35,202 |  |  | 35,202 |  |  | — |  |  | 35,202 |  |  | — |
Long-term borrowings | 76,500 |  |  | 77,545 |  |  | — |  |  | 77,545 |  |  | — |
Accrued interest payable | 815 |  |  | 815 |  |  | — |  |  | 815 |  |  | — |
Off-balance sheet financial instruments | — |  |  | — |  |  | — |  |  | — |  |  | — |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration