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FAIR VALUE OF INSTRUMENTS (Tables)

6 Months Ended

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 information pertaining to carrying amount of estimated fair value on impaired loans and other real estate owned as recorded at fair value.

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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

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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