XML 43 R17.htm IDEA: XBRL DOCUMENT v3.3.0.814

Fair Value of Instruments (Tables)

9 Months Ended

Sep. 30, 2015

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, 2015 and December 31, 2014 are reflected below.

		(In Thousands)
		September 30, 2015
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and Cash Equivalents		$	31,218			$	31,218			$	31,218			$	—			$	—
Securities - available-for-sale			244,786				244,786				38,904				198,277				7,605
Other Securities			3,717				3,717				—				—				3,717
Loans, net			629,074				637,848				—				—				637,848
Interest receivable			4,372				4,372				—				—				4,372
Total Assets		$	913,167			$	921,941			$	70,122			$	198,277			$	653,542
Financial Liabilities:
Interest bearing Deposits		$	414,680			$	414,682			$	—			$	—			$	414,682
Non-interest bearing Deposits			161,978				161,978				—				161,978				—
Time Deposits			191,384				191,619				—				—				191,619
Total Deposits		$	768,042			$	768,279			$	—			$	161,978			$	606,301
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase			61,504				61,504				—				—				61,504
Interest payable			217				217				—				—				217
Dividends payable			1,009				1,009				—				1,009				—
Total Liabilities		$	830,772			$	831,009			$	—			$	162,987			$	668,022
		(In Thousands)
		December 31, 2014
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and Cash Equivalents		$	24,295			$	24,295			$	24,295			$	—			$	—
Securities - available-for-sale			248,492				248,492				25,393				215,168				7,931
Other Securities			3,717				3,717				—				—				3,717
Loans, net			616,021				625,377				—				—				625,377
Interest receivable			3,578				3,578				—				—				3,578
Total Assets		$	896,103			$	905,459			$	49,688			$	215,168			$	640,603
Financial Liabilities:
Interest bearing Deposits		$	403,051			$	403,801			$	—			$	—			$	403,801
Non-interest bearing Deposits			164,009				164,009				—				164,009				—
Time Deposits			195,500				196,545				—				—				196,545
Total Deposits		$	762,560			$	764,355			$	—			$	164,009			$	600,346
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase			55,962				55,962				—				—				55,962
Interest payable			207				207				—				—				207
Dividends payable			965				965				—				965				—
Total Liabilities		$	819,694			$	821,489			$	—			$	164,974			$	656,515

Financial Assets Measured at Fair Value on Recurring Basis

The following summarizes financial assets measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, 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)
September 30, 2015		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		$	38,904			$	—			$	—
U.S. Government agency			—				100,804				—
Mortgage-backed securities			—				28,028				—
State and local governments			—				69,445				7,605
Total Securities Available-for-Sale		$	38,904			$	198,277			$	7,605
December 31, 2014		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		$	25,393			$	—			$	—
U.S. Government agency			—				119,234				—
Mortgage-backed securities			—				29,562				—
State and local governments			—				66,372				7,931
Total Securities Available-for-Sale		$	25,393			$	215,168			$	7,931

Changes in the Level 3 Fair-Value Category of Which Unobservable Inputs

The following table represents the changes in the Level 3 fair-value category of which unobservable inputs are relied upon as of September 30, 2015 and September 30, 2014.

		(In Thousands) Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments Tax-Exempt				State and Local Governments Taxable				State and Local Governments Total
Balance at January 1, 2015		$	6,638			$	1,293			$	7,931
Change in Market Value			(256	)			130				(126	)
Payments & Maturities			(200	)			—				(200	)
Balance at September 30, 2015		$	6,182			$	1,423			$	7,605
		(In Thousands) Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments Tax-Exempt				State and Local Governments Taxable				State and Local Governments Total
Balance at January 1, 2014		$	8,802			$	1,544			$	10,346
Change in Market Value			(1,262	)			(357	)			(1,619	)
Payments & Maturities			(820	)			—				(820	)
Balance at September 30, 2014		$	6,720			$	1,187			$	7,907

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements:

		Fair Value at September 30, 2015				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
State and political subdivision securities		$	7,605			Discounted cash flow		Credit strength of underlying project or entity / Discount rate			0-5	%
Collateral dependent impaired loans		$	593			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability			0-50	%
		Fair Value at December 31, 2014				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
State and political subdivision securities		$	7,931			Discounted cash flow		Credit strength of underlying project or entity / Discount rate			0-5	%
Collateral dependent impaired loans		$	1,456			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability			0-50	%
Other real estate owned - residential		$	21			Appraisals		Discount to reflect current market			0-20	%
Other real estate owned - commercial		$	23			Appraisals		Discount to reflect current market			0-20	%

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, 2015 and December 31, 2014:

		Assets Measured at Fair Value on a Nonrecurring Basis at September 30, 2015
(In Thousands)		Balance at September 30, 2015				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent impaired loans		$	593			$	—			$	—			$	593
Other real estate owned commercial		$	225			$	—			$	—			$	225
		Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2014
(In Thousands)		Balance at December 31, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent impaired loans		$	1,456			$	—			$	—			$	1,456
Other real estate owned residential mortgages		$	21			$	—			$	—			$	21
Other real estate owned commercial		$	23			$	—			$	—			$	23

X

- 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.

+ References

No definition available.

+ Details

Name:	fmao_ImpairedLoansAndOtherRealEstateTableTextBlock
Namespace Prefix:	fmao_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability.

+ 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=36462937&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 2



-Subparagraph (a),(b)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



Reference 2: 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=36462937&loc=d3e19190-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
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 financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

+ 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 (c)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 3



-Subparagraph (b)



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration