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Note 4 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

						September 30, 2012
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets Measured on a Recurring Basis:
U.S. government agency securities		$	-			$	17,268			$	-			$	17,268
Obligations of states and political subdivisions			-				92,668				-				92,668
Mortgage-backed securities in government-sponsored entities							62,467								62,467
Private-label mortgage-backed securities			-				5,986				-				5,986
Total debt securities			-				178,389				-				178,389
Equity securities in financial institutions			5				746				-				751
Total		$	5			$	179,135			$	-			$	179,140

						December 31, 2011
		Level I				Level II				Level III				Total
Assets Measured on a Recurring Basis:
U.S. government agency securities		$	-			$	31,933			$	-			$	31,933
Obligations of states and political subdivisions			-				88,400				-				88,400
Mortgage-backed securities in government-sponsored entities							65,573								65,573
Private-label mortgage-backed securities			-				7,321				-				7,321
Total debt securities			-				193,227				-				193,227
Equity securities in financial institutions			5				745				-				750
Total		$	5			$	193,972			$	-			$	193,977

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

						September 30, 2012
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets Measured on a non-recurring Basis:
Impaired loans		$	-			$	-			$	14,258			$	14,258
Other real estate owned			-				-				2,332				2,332

						December 31, 2011
		Level I				Level II				Level III				Total
Assets Measured on a non-recurring Basis:
Impaired loans		$	-			$	-			$	16,535			$	16,535
Other real estate owned			-				-				2,196				2,196

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

		Quantitative Information about Level III Fair Value Measurements
(unaudited, in thousands)		Estimate			Valuation Techniquest	Unobservable Input	Range (Weighted Average)
September 30, 2012
Impaired loans		$	14,258		Appraisal of collateral (1)	Appraisal adjustments (2)	0%	to	-75.0%	(-31.9%)
						Liquidation expenses (2)	0%	to	-45.8%	(-1.5%)
Other real estate owned		$	2,332		Appraisal of collateral (1), (3)

Fair Value, by Balance Sheet Grouping [Table Text Block]

		September 30, 2012
		Carrying Value				Level I				Level II				Level III				Total Fair Value
		(in thousands)
Financial assets:
Cash and cash equivalents		$	52,606			$	52,606			$	-			$	-			$	52,606
Investment securities
Available for sale			179,140				5				179,135				-				179,140
Net loans			402,002				-				-				394,070				394,070
Bank-owned life insurance			8,465				8,465								-				8,465
Federal Home Loan Bank stock			1,887				1,887								-				1,887
Accrued interest receivable			2,598				2,598				-				-				2,598
Financial liabilities:
Deposits		$	584,738			$	382,773			$	-			$	207,336			$	590,109
Short-term borrowings			6,518				6,518				-				-				6,518
Other borrowings			15,836				-				-				16,240				16,240
Accrued interest payable			557				557				-				-				557

		September 30, 2012								December 31, 2011
		Carrying Value				Fair Value				Carrying Value				Fair Value
		(in thousands)
Financial assets:
Cash and cash equivalents		$	52,606			$	52,606			$	34,390			$	34,390
Investment securities
Available for sale			179,140				179,140				193,977				193,977
Net loans			402,002				394,070				395,061				382,542
Bank-owned life insurance			8,465				8,465				8,257				8,257
Federal Home Loan Bank stock			1,887				1,887				1,887				1,887
Accrued interest receivable			2,598				2,598				2,234				2,234
Financial liabilities:
Deposits		$	584,738			$	590,109			$	580,962			$	587,178
Short-term borrowings			6,518				6,518				7,392				7,392
Other borrowings			15,836				16,240				16,831				17,327
Accrued interest payable			557				557				645				645

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- 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.

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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).

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Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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