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FAIR VALUE OF INSTRUMENTS (Tables)

9 Months Ended

Sep. 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 September 30, 2013 and December 31, 2012 are reflected below.

		(In Thousands)
		September 2013
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and Cash Equivalents		$	21,535			$	21,535			$	21,535			$	—			$	—
Securities - available for sale			337,298				337,298				25,392				299,864				12,042
Other Securities			4,216				4,216				—				—				4,216
Loans, net			518,296				527,219				—				—				527,219
Interest receivable			4,289				4,289				—				—				4,289
Total Assets		$	885,634			$	894,557			$	46,927			$	299,864			$	547,766
Financial Liabilities:
Interest bearing Deposits		$	400,658			$	403,031			$	—			$	—			$	403,031
Non-interest bearing Deposits			103,535				103,896				—				103,896				—
Time Deposits			241,375				241,155				—				—				241,155
Total Deposits		$	745,568			$	748,082			$	—			$	103,896			$	644,186
Short-term debt			61,322				61,322				—				—				61,322
Federal Home Loan Bank advances			7,100				8,487				—				—				8,487
Interest payable			238				238				—				—				238
Dividends payable			928				928				—				928				—
Total Liabilities		$	815,156			$	819,057			$	—			$	104,824			$	714,233

		(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 September 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
September 30, 2013 (In Thousands)		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		$	25,392			$	—			$	—
U.S. Government agency			—				197,533				—
Mortgage-backed securities			—				42,103				—
State and local governments			—				60,228				12,042
Total Securities Available for Sale		$	25,392			$	299,864			$	12,042

December 31, 2012 (In Thousands)		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 September 30, 2013 and December 31, 2012:

						Assets Measured at Fair Value on a Nonrecurring Basis at September 30, 2013
(In Thousands)		Balance at September 30, 2013				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Change in fair value for Nine-month period ended September 30, 2013
Impaired loans		$	1,562			$	—			$	—			$	1,562			$	—
Other real estate owned residential mortgages		$	886			$	—			$	—			$	886			$	(16	)
Other real estate owned commercial		$	1,475			$	—			$	—			$	1,475			$	(64	)
																		$	(80	)

						Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2012
(In Thousands)		Balance at December 31, 2012				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Change in 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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