XML 37 R52.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Fair Value Disclosures (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Fair Value Disclosures [Abstract] |
Assets and liabilities measured on recurring basis measured at fair value | The following table presents the balances of assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2013 and 2012.
| At December 31, 2013
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Securities available for sale |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 177,729,000 |  |  | $ | — |  |  | $ | 177,729,000 |
State and political subdivisions | — |  |  | 126,315,000 |  |  | — |  |  | 126,315,000 |
Other equity securities | — |  |  | 1,780,000 |  |  | — |  |  | 1,780,000 |
Total assets | $ | — |  |  | $ | 305,824,000 |  |  | $ | — |  |  | $ | 305,824,000 |
| At December 31, 2012
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Securities available for sale |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 169,093,000 |  |  | $ | — |  |  | $ | 169,093,000 |
State and political subdivisions | — |  |  | 120,944,000 |  |  | — |  |  | 120,944,000 |
Other equity securities | — |  |  | 1,577,000 |  |  | — |  |  | 1,577,000 |
Total assets | $ | — |  |  | $ | 291,614,000 |  |  | $ | — |  |  | $ | 291,614,000 |
Assets and liabilities measured on non-recurring basis measured at fair value | The following table presents assets measured at fair value on a nonrecurring basis that have had a fair value adjustment since their initial recognition. Other real estate owned is presented net of an allowance for losses of $330,000 and $373,000 at December 2013 and 2012, respectively. Impaired loans measured at fair value only include impaired loans with a related specific allowance for loan losses and are presented net of their related specific allowance for loan losses of $1,309,000 and $3,539,000 at December 31, 2013 and 2012, respectively. The December 31, 2012 non-recurring fair value table includes all impaired loans with a related allowance. The Company refined its process for identifying impaired loans for purposes of fair value disclosures; accordingly the December 31, 2013 fair value table only includes those impaired loans for which the related allowance results in a fair value measure, as described above.
| At December 31, 2013
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Other real estate owned | $ | — |  |  | $ | 4,807,000 |  |  | $ | — |  |  | $ | 4,807,000 |
Impaired loans | — |  |  | 1,116,000 |  |  | — |  |  | 1,116,000 |
Total Assets | $ | — |  |  | $ | 5,923,000 |  |  | $ | — |  |  | $ | 5,923,000 |
| At December 31, 2012
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Other real estate owned | $ | — |  |  | $ | 7,593,000 |  |  | $ | — |  |  | $ | 7,593,000 |
Impaired loans | — |  |  | 13,923,000 |  |  | — |  |  | 13,923,000 |
Total Assets | $ | — |  |  | $ | 21,516,000 |  |  | $ | — |  |  | $ | 21,516,000 |
Estimated fair value of financial instruments | The carrying amounts and estimated fair values for financial instruments as of December 31, 2013 were as follows:
| Carrying |  | Estimated |  |  |  |  |  |
As of December 31, 2013 | value |  | fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 16,570,000 |  |  | $ | 16,570,000 |  |  | $ | 16,570,000 |  |  | $ | — |  |  | $ | — |
Interest bearing deposits in other banks | 2,562,000 |  |  | 2,562,000 |  |  | 2,562,000 |  |  | — |  |  | — |
Securities available for sale | 305,824,000 |  |  | 305,824,000 |  |  | — |  |  | 305,824,000 |  |  | — |
Securities to be held to maturity | 169,277,000 |  |  | 158,336,000 |  |  | — |  |  | 158,336,000 |  |  | — |
Restricted equity securities | 13,912,000 |  |  | 13,912,000 |  |  | — |  |  | 13,912,000 |  |  | — |
Loans held for sale | 83,000 |  |  | 83,000 |  |  | — |  |  | 83,000 |  |  | — |
Loans (net of allowance for loan losses) |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Real estate | 240,555,000 |  |  | 239,973,000 |  |  | — |  |  | 109,000 |  |  | 239,864,000 |
Construction | 19,709,000 |  |  | 19,661,000 |  |  | — |  |  | — |  |  | 19,661,000 |
Other | 92,625,000 |  |  | 92,855,000 |  |  | — |  |  | 229,000 |  |  | 92,626,000 |
Municipal | 19,099,000 |  |  | 19,358,000 |  |  | — |  |  | — |  |  | 19,358,000 |
Residential |  |  |  |  |  |  |  |  |
Term | 375,932,000 |  |  | 381,918,000 |  |  | — |  |  | 778,000 |  |  | 381,140,000 |
Construction | 11,778,000 |  |  | 11,794,000 |  |  | — |  |  | — |  |  | 11,794,000 |
Home equity line of credit | 90,759,000 |  |  | 90,542,000 |  |  | — |  |  | — |  |  | 90,542,000 |
Consumer | 14,396,000 |  |  | 14,438,000 |  |  | — |  |  | — |  |  | 14,438,000 |
Total loans | 864,853,000 |  |  | 870,539,000 |  |  | — |  |  | 1,116,000 |  |  | 869,423,000 |
Mortgage servicing rights | 1,158,000 |  |  | 1,948,000 |  |  | — |  |  | 1,948,000 |  |  | — |
Accrued interest receivable | 5,038,000 |  |  | 5,038,000 |  |  | — |  |  | 5,038,000 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Demand deposits | $ | 106,125,000 |  |  | $ | 96,175,000 |  |  | $ | — |  |  | $ | 96,175,000 |  |  | $ | — |
NOW deposits | 151,322,000 |  |  | 129,815,000 |  |  | — |  |  | 129,815,000 |  |  | — |
Money market deposits | 86,730,000 |  |  | 67,968,000 |  |  | — |  |  | 67,968,000 |  |  | — |
Savings deposits | 149,103,000 |  |  | 122,891,000 |  |  | — |  |  | 122,891,000 |  |  | — |
Local certificates of deposit | 226,658,000 |  |  | 228,767,000 |  |  | — |  |  | 228,767,000 |  |  | — |
National certificates of deposit | 304,461,000 |  |  | 306,346,000 |  |  | — |  |  | 306,346,000 |  |  | — |
Total deposits | 1,024,399,000 |  |  | 951,962,000 |  |  | — |  |  | 951,962,000 |  |  | — |
Repurchase agreements | 94,477,000 |  |  | 94,477,000 |  |  | — |  |  | 94,477,000 |  |  | — |
Federal Home Loan Bank advances | 184,648,000 |  |  | 189,644,000 |  |  | — |  |  | 189,644,000 |  |  | — |
Total borrowed funds | 279,125,000 |  |  | 284,121,000 |  |  | — |  |  | 284,121,000 |  |  | — |
Accrued interest payable | 599,000 |  |  | 599,000 |  |  | — |  |  | 599,000 |  |  | — |
The carrying amounts and estimated fair values for financial instruments as of December 31, 2012 were as follows:
| Carrying |  | Estimated |  |  |  |  |  |
As of December 31, 2012 | value |  | fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 14,958,000 |  |  | $ | 14,958,000 |  |  | $ | 14,958,000 |  |  | $ | — |  |  | $ | — |
Interest bearing deposits in other banks | 1,638,000 |  |  | 1,638,000 |  |  | 1,638,000 |  |  | — |  |  | — |
Securities available for sale | 291,614,000 |  |  | 291,614,000 |  |  | — |  |  | 291,614,000 |  |  | — |
Securities to be held to maturity | 143,320,000 |  |  | 150,247,000 |  |  | — |  |  | 150,247,000 |  |  | — |
Restricted equity securities | 14,448,000 |  |  | 14,448,000 |  |  | — |  |  | 14,448,000 |  |  | — |
Loans held for sale | 1,035,000 |  |  | 1,035,000 |  |  | — |  |  | 1,035,000 |  |  | — |
Loans (net of allowance for loan losses) |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Real estate | 245,046,000 |  |  | 244,365,000 |  |  | — |  |  | 4,865,000 |  |  | 239,500,000 |
Construction | 20,960,000 |  |  | 20,902,000 |  |  | — |  |  | 2,284,000 |  |  | 18,618,000 |
Other | 78,985,000 |  |  | 79,312,000 |  |  | — |  |  | 472,000 |  |  | 78,840,000 |
Municipal | 14,685,000 |  |  | 16,058,000 |  |  | — |  |  | — |  |  | 16,058,000 |
Residential |  |  |  |  |  |  |  |  |
Term | 378,258,000 |  |  | 390,223,000 |  |  | — |  |  | 6,302,000 |  |  | 383,921,000 |
Construction | 6,447,000 |  |  | 6,430,000 |  |  | — |  |  | — |  |  | 6,430,000 |
Home equity line of credit | 98,381,000 |  |  | 99,038,000 |  |  | — |  |  | — |  |  | 99,038,000 |
Consumer | 14,022,000 |  |  | 14,392,000 |  |  | — |  |  | — |  |  | 14,392,000 |
Total loans | 856,784,000 |  |  | 870,720,000 |  |  | — |  |  | 13,923,000 |  |  | 856,797,000 |
Mortgage servicing rights | 867,000 |  |  | 1,228,000 |  |  | — |  |  | 1,228,000 |  |  | — |
Accrued interest receivable | 4,912,000 |  |  | 4,912,000 |  |  | — |  |  | 4,912,000 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Demand deposits | $ | 90,252,000 |  |  | $ | 91,544,000 |  |  | $ | — |  |  | $ | 91,544,000 |  |  | $ | — |
NOW deposits | 147,309,000 |  |  | 141,436,000 |  |  | — |  |  | 141,436,000 |  |  | — |
Money market deposits | 80,983,000 |  |  | 71,799,000 |  |  | — |  |  | 71,799,000 |  |  | — |
Savings deposits | 135,250,000 |  |  | 126,142,000 |  |  | — |  |  | 126,142,000 |  |  | — |
Local certificates of deposit | 218,571,000 |  |  | 223,748,000 |  |  | — |  |  | 223,748,000 |  |  | — |
National certificates of deposit | 286,485,000 |  |  | 290,457,000 |  |  | — |  |  | 290,457,000 |  |  | — |
Total deposits | 958,850,000 |  |  | 945,126,000 |  |  | — |  |  | 945,126,000 |  |  | — |
Repurchase agreements | 101,504,000 |  |  | 101,504,000 |  |  | — |  |  | 101,504,000 |  |  | — |
Federal Home Loan Bank advances | 181,401,000 |  |  | 189,321,000 |  |  | — |  |  | 189,321,000 |  |  | — |
Total borrowed funds | 282,905,000 |  |  | 290,825,000 |  |  | — |  |  | 290,825,000 |  |  | — |
Accrued interest payable | 619,000 |  |  | 619,000 |  |  | — |  |  | 619,000 |  |  | — |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + 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) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration