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FAIR VALUE OF INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2013
Fair Value Disclosures [Abstract] |
Estimated Fair Values and Related Carrying or Notional Amounts | The estimated fair values, and related carrying or notional amounts, for on and off-balance sheet financial instruments as of June 30, 2013 and December 31, 2012 are reflected below.
|  | (In Thousands) |
|  | June 2013 |
|  | Carrying Amount |  |  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 22,463 |  |  | $ | 22,463 |  |  | $ | 22,463 |  |  | $ | — |  |  | $ | — |
Securities - available for sale |  |  | 354,474 |  |  |  | 354,474 |  |  |  | 25,479 |  |  |  | 316,571 |  |  |  | 12,424 |
Other Securities |  |  | 4,216 |  |  |  | 4,216 |  |  |  | — |  |  |  | — |  |  |  | 4,216 |
Loans, net |  |  | 495,777 |  |  |  | 504,731 |  |  |  | — |  |  |  | — |  |  |  | 504,731 |
Interest receivable |  |  | 3,776 |  |  |  | 3,776 |  |  |  | — |  |  |  | — |  |  |  | 3,776 |
Total Assets |  | $ | 880,706 |  |  | $ | 889,660 |  |  | $ | 47,942 |  |  | $ | 316,571 |  |  | $ | 525,147 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest bearing Deposits |  | $ | 397,731 |  |  | $ | 399,483 |  |  | $ | — |  |  | $ | — |  |  | $ | 399,483 |
Non-interest bearing Deposits |  |  | 95,442 |  |  |  | 96,348 |  |  |  | — |  |  |  | 96,348 |  |  |  | — |
Time Deposits |  |  | 254,439 |  |  |  | 255,153 |  |  |  | — |  |  |  | — |  |  |  | 255,153 |
Total Deposits |  | $ | 747,612 |  |  | $ | 750,984 |  |  | $ | — |  |  | $ | 96,348 |  |  | $ | 654,636 |
Short-term debt |  |  | 54,728 |  |  |  | 54,728 |  |  |  | — |  |  |  | — |  |  |  | 54,728 |
Federal Home Loan Bank advances |  |  | 7,100 |  |  |  | 8,489 |  |  |  | — |  |  |  | — |  |  |  | 8,489 |
Interest payable |  |  | 270 |  |  |  | 270 |  |  |  | — |  |  |  | — |  |  |  | 270 |
Dividends payable |  |  | 930 |  |  |  | 930 |  |  |  | — |  |  |  | 930 |  |  |  | — |
Total Liabilities |  | $ | 810,640 |  |  | $ | 815,401 |  |  | $ | — |  |  | $ | 97,278 |  |  | $ | 718,123 |
|  | (In Thousands) |
|  | December 2012 |
|  | Carrying Amount |  |  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 44,092 |  |  | $ | 44,092 |  |  | $ | 44,092 |  |  | $ | — |  |  | $ | — |
Securities - available for sale |  |  | 355,905 |  |  |  | 355,905 |  |  |  | 10,568 |  |  |  | 328,929 |  |  |  | 16,408 |
Other Securities |  |  | 4,365 |  |  |  | 4,365 |  |  |  | — |  |  |  | — |  |  |  | 4,365 |
Loans, net |  |  | 496,178 |  |  |  | 502,125 |  |  |  | — |  |  |  | — |  |  |  | 502,125 |
Interest receivable |  |  | 3,603 |  |  |  | 3,603 |  |  |  | — |  |  |  | — |  |  |  | 3,603 |
Total Assets |  | $ | 904,143 |  |  | $ | 910,090 |  |  | $ | 54,660 |  |  | $ | 328,929 |  |  | $ | 526,501 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest bearing Deposits |  | $ | 389,779 |  |  | $ | 390,066 |  |  | $ | — |  |  | $ | — |  |  | $ | 390,066 |
Non-interest bearing Deposits |  |  | 103,966 |  |  |  | 104,529 |  |  |  | — |  |  |  | 104,529 |  |  |  | — |
Time Deposits |  |  | 269,507 |  |  |  | 272,591 |  |  |  | — |  |  |  | — |  |  |  | 272,591 |
Total Deposits |  | $ | 763,252 |  |  | $ | 767,186 |  |  | $ | — |  |  | $ | 104,529 |  |  | $ | 662,657 |
Short-term debt |  |  | 51,312 |  |  |  | 51,312 |  |  |  | — |  |  |  | — |  |  |  | 51,312 |
Federal Home Loan Bank advances |  |  | 11,600 |  |  |  | 11,012 |  |  |  | — |  |  |  | — |  |  |  | 11,012 |
Interest payable |  |  | 288 |  |  |  | 288 |  |  |  | — |  |  |  | — |  |  |  | 288 |
Dividends payable |  |  | 931 |  |  |  | 931 |  |  |  | — |  |  |  | 931 |  |  |  | — |
Total Liabilities |  | $ | 827,383 |  |  | $ | 830,729 |  |  | $ | — |  |  | $ | 105,460 |  |  | $ | 725,269 |
Financial Assets Measured at Fair Value on a Recurring Basis | The following summarizes financial assets measured at fair value on a recurring basis as of June 30, 2013 and December 31, 2012, segregated by level or the valuation inputs within the fair value hierarchy utilized to measure fair value:
Assets and Liabilities Measured at Fair Value on a Recurring Basis |
(In Thousands) June 30, 2013 |  | Quoted Prices in Active Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Observable Inputs (Level 3) |
Assets-(Securities Available for Sale) |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 25,479 |  |  | $ | — |  |  | $ | — |
U.S. Government agency |  |  | — |  |  |  | 210,915 |  |  |  | — |
Mortgage-backed securities |  |  | — |  |  |  | 45,338 |  |  |  | — |
State and local governments |  |  | — |  |  |  | 60,318 |  |  |  | 12,424 |
Total Securities Available for Sale |  | $ | 25,479 |  |  | $ | 316,571 |  |  | $ | 12,424 |
(In Thousands) December 31, 2012 |  | Quoted Prices in Active Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Observable Inputs (Level 3) |
Assets-(Securities Available for Sale) |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 10,568 |  |  | $ | — |  |  | $ | — |
U.S. Government agency |  |  |  |  |  |  | 220,200 |  |  |  | — |
Mortgage-backed securities |  |  |  |  |  |  | 53,006 |  |  |  | — |
State and local governments |  |  | — |  |  |  | 55,723 |  |  |  | 16,408 |
Total Securities Available for Sale |  | $ | 10,568 |  |  | $ | 328,929 |  |  | $ | 16,408 |
Impaired Loans and Other Real Estate | The following table presents impaired loans and other real estate owned as recorded at fair value on June 30, 2013 and December 31, 2012:
|  |  |  |  | Assets Measured at Fair Value on a Nonrecurring Basis at June 30, 2013 |
|  | Quoted Prices in Active |  |  |  |  |  | Change in |
($ in Thousands) |  | Balance at June 30, 2013 |  |  | Markets for Identical sets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | fair value for Six-month period ended June 30, 2013 |
Impaired loans |  | $ | 4,521 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,521 |  |  | $ | (3 | )
Other real estate owned residential mortgages |  | $ | 609 |  |  | $ | — |  |  | $ | — |  |  | $ | 609 |  |  | $ | (16 | )
Other real estate owned commercial |  | $ | 1,145 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,145 |  |  | $ | (64 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (83 | )
|  |  |  |  | Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2012 |
|  | Quoted Prices in Active |  |  |  |  |  | Change in |
($ in Thousands) |  | Balance at December 31, 2012 |  |  | Markets for Identical sets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | fair value for twelve-month period ended Dec. 31, 2012 |
Impaired loans |  | $ | 4,591 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,591 |  |  | $ | (76 | )
Other real estate owned residential mortgages |  | $ | 783 |  |  | $ | — |  |  | $ | — |  |  | $ | 783 |  |  | $ | (62 | )
Other real estate owned commercial |  | $ | 1,526 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,526 |  |  | $ | (214 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (352 | )

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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 Reference 1: 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=25499696&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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