XML 57 R42.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Fair Value of Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 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 December 31, 2015 and 2014, are reflected below.
|  | (In Thousands) |
|  | December 2015 |  |  | December 2014 |
|  | Carrying Amount |  |  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Carrying Amount |  |  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 22,018 |  |  | $ | 22,018 |  |  | $ | 22,018 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,295 |  |  | $ | 24,295 |  |  | $ | 24,295 |  |  | $ | — |  |  | $ | — |
Securities - available for sale |  |  | 235,115 |  |  |  | 235,115 |  |  |  | 38,505 |  |  |  | 189,258 |  |  |  | 7,352 |  |  |  | 248,492 |  |  |  | 248,492 |  |  |  | 25,393 |  |  |  | 215,168 |  |  |  | 7,931 |
Other Securities |  |  | 3,717 |  |  |  | 3,717 |  |  |  | — |  |  |  | — |  |  |  | 3,717 |  |  |  | 3,717 |  |  |  | 3,717 |  |  |  | — |  |  |  | — |  |  |  | 3,717 |
Loans, net |  |  | 679,821 |  |  |  | 683,332 |  |  |  | — |  |  |  | — |  |  |  | 683,332 |  |  |  | 616,021 |  |  |  | 625,377 |  |  |  | — |  |  |  | — |  |  |  | 625,377 |
Interest receivable |  |  | 3,589 |  |  |  | 3,589 |  |  |  | — |  |  |  | — |  |  |  | 3,589 |  |  |  | 3,578 |  |  |  | 3,578 |  |  |  | — |  |  |  | — |  |  |  | 3,578 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest bearing Deposits |  | $ | 415,942 |  |  | $ | 415,942 |  |  | $ | — |  |  | $ | — |  |  | $ | 415,942 |  |  | $ | 403,051 |  |  | $ | 403,801 |  |  | $ | — |  |  | $ | — |  |  | $ | 403,801 |
Non-interest bearing Deposits |  |  | 171,112 |  |  |  | 171,112 |  |  |  | — |  |  |  | 171,112 |  |  |  | — |  |  |  | 164,009 |  |  |  | 164,009 |  |  |  | — |  |  |  | 164,009 |  |  |  | — |
Time Deposits |  |  | 184,285 |  |  |  | 184,308 |  |  |  | — |  |  |  | — |  |  |  | 184,308 |  |  |  | 195,500 |  |  |  | 196,545 |  |  |  | — |  |  |  | — |  |  |  | 196,545 |
Total Deposits |  | $ | 771,339 |  |  | $ | 771,362 |  |  | $ | — |  |  | $ | 171,112 |  |  | $ | 600,250 |  |  | $ | 762,560 |  |  | $ | 764,355 |  |  | $ | — |  |  | $ | 164,009 |  |  | $ | 600,346 |
Federal Funds purchased and Securities sold under agreement to repurchase |  |  | 78,815 |  |  |  | 78,815 |  |  |  | — |  |  |  | — |  |  |  | 78,815 |  |  |  | 55,962 |  |  |  | 55,962 |  |  |  | — |  |  |  | — |  |  |  | 55,962 |
Federal Home Loan Bank advances |  |  | 10,000 |  |  |  | 9,986 |  |  |  | — |  |  |  | — |  |  |  | 9,986 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Interest payable |  |  | 185 |  |  |  | 185 |  |  |  | — |  |  |  | — |  |  |  | 185 |  |  |  | 207 |  |  |  | 207 |  |  |  | — |  |  |  | — |  |  |  | 207 |
Financial Assets Measured at Fair Value on Recurring Basis | The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2015 and December 31, 2014 segregated by level or the valuation inputs within the fair value hierarchy utilized to measure fair value:
Assest and Liabilities Measured at Fair Value on a Recurring Basis (In Thousands) |
December 31, 2015 |  | Quoted Prices in 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 |  | $ | 38,505 |  |  | $ | — |  |  | $ | — |
U.S. Government agencies |  |  | — |  |  |  | 98,220 |  |  |  | — |
Mortgage-backed securities |  |  | — |  |  |  | 26,324 |  |  |  | — |
State and local governments |  |  | — |  |  |  | 64,714 |  |  |  | 7,352 |
Total Securities Available for Sale |  | $ | 38,505 |  |  | $ | 189,258 |  |  | $ | 7,352 |
December 31, 2014 |  | Quoted Prices in 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 agencies |  |  | — |  |  |  | 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 |
|  | (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 |  |  | (259 | ) |  |  | 155 |  |  |  | (104 | )
Purchases |  |  | — |  |  |  | — |  |  |  | — |
Sales |  |  | — |  |  |  | — |  |  |  | — |
Payments & Maturities |  |  | (475 | ) |  |  | — |  |  |  | (475 | )
Balance at December 31, 2015 |  | $ | 5,904 |  |  | $ | 1,448 |  |  | $ | 7,352 |
|  | (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 |  |  | (1,104 | ) |  |  | (251 | ) |  |  | (1,355 | )
Purchases |  |  | — |  |  |  | — |  |  |  | — |
Sales |  |  | — |  |  |  | — |  |  |  | — |
Payments & Maturities |  |  | (1,060 | ) |  |  | — |  |  |  | (1,060 | )
Balance at December 31, 2014 |  | $ | 6,638 |  |  | $ | 1,293 |  |  | $ | 7,931 |
Collateral Dependent Impaired Loans and Other Real Estate | The following table presents collateral dependent impaired loans and other real estate owned as recorded at fair value:
Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2015 |
($ in Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Balance at December 31, 2015 |  |  | Quoted Prices in 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, 2015 |
Collateral dependent impaired loans |  | $ | 549 |  |  | $ | — |  |  | $ | — |  |  | $ | 549 |  |  | $ | (17 | )
Other real estate owned - commercial |  |  | 216 |  |  |  | — |  |  |  | — |  |  |  | 216 |  |  |  | (32 | )
Total change in fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (49 | )
Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2014 |
($ in Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Balance at December 31, 2015 |  |  | Quoted Prices in 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, 2015 |
Collateral dependent impaired loans |  | $ | 781 |  |  | $ | — |  |  | $ | — |  |  | $ | 781 |  |  | $ | (168 | )
Other real estate owned - residentialmortgages |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 44 |  |  |  | (40 | )
Total change in fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (208 | )
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 December 31, 2015 |  |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted Average)
State and local government |  | $ | 7,352 |  |  | Discounted Cash Flow |  | Credit strength of underlying project or |  | 0-5%
|  |  |  |  |  |  |  | entity / Discount rate |  |
Collateral dependent Impaired Loans |  |  | 549 |  |  | Collateral based measurements |  | Discount to reflect current market |  | 0-50%
|  |  |  |  |  |  |  | conditions and ultimate collectability |  |
Other real estate owned - commercial |  |  | 216 |  |  | Appraisals |  | Discount to reflect current market |  | 0-20%
|  | Fair Value at December 31, 2014 |  |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted Average)
State and local government |  | $ | 7,931 |  |  | Discounted Cash Flow |  | Credit strength of underlying project or |  | 0-5%
|  |  |  |  |  |  |  | entity / Discount rate |  |
Collateral dependent Impaired Loans |  |  | 782 |  |  | Collateral based measurements |  | Discount to reflect current market |  | 0-50%
|  |  |  |  |  |  |  | conditions and ultimate collectability |  |
Other real estate owned - residential |  |  | 44 |  |  | Appraisals |  | Discount to reflect current market |  | 0-20%

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