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Note 4 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

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

						March 31, 2015
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
U.S. government agency securities		$	-			$	22,921			$	-			$	22,921
Obligations of states and political subdivisions			-				96,097				-				96,097
Mortgage-backed securities in government- sponsored entities							28,517								28,517
Private-label mortgage-backed securities			-				2,725				-				2,725
Total debt securities			-				150,260				-				150,260
Equity securities in financial institutions			-				899				-				899
Total		$	-			$	151,159			$	-			$	151,159

						December 31, 2014
		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
U.S. government agency securities		$	-			$	22,896			$	-			$	22,896
Obligations of states and political subdivisions			-				98,345				-				98,345
Mortgage-backed securities in government- sponsored entities			-				29,391				-				29,391
Private-label mortgage-backed securities			-				2,919				-				2,919
Total debt securities			-				153,551				-				153,551
Equity securities in financial institutions			-				783				-				783
Total		$	-			$	154,334			$	-			$	154,334

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

						March 31, 2015
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a nonrecurring basis:
Impaired loans		$	-			$	-			$	11,059			$	11,059
Other real estate owned			-				-				2,203				2,203

						December 31, 2014
		Level I				Level II				Level III				Total
Assets measured on a nonrecurring basis:
Impaired loans		$	-			$	-			$	12,772			$	12,772
Other real estate owned			-				-				2,590				2,590

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

		Quantitative Information about Level III Fair Value Measurements
(Dollar amounts in thousands)									Valuation	Unobservable		Range
		Fair Value Estimate							Techniques	Input		(Weighted Average)
		March 31, 2015				December 31, 2014
Impaired loans		$	11,059			$	12,772		Appraisal of collateral (1)	Appraisal adjustments (2)		0%	to	-128.1%	(-31.1%)
Other real estate owned		$	2,203			$	2,590		Appraisal of collateral (1)	Appraisal adjustments (2)		0%	to	-10.0%	(-7.5%)

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

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

		March 31, 2015
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Cash and cash equivalents		$	45,262			$	45,262			$	-			$	-			$	45,262
Investment securities Available for sale			151,159				-				151,159				-				151,159
Loans held for sale			690				-				690				-				690
Net loans			469,371				-				-				481,581				481,581
Bank-owned life insurance			9,161				9,161				-				-				9,161
Federal Home Loan Bank stock			1,887				1,887				-				-				1,887
Accrued interest receivable			2,549				2,549				-				-				2,549
Financial liabilities:
Deposits		$	617,143			$	427,137			$	-			$	186,893			$	614,030
Short-term borrowings			4,913				4,913				-				-				4,913
Other borrowings			10,533				-				-				12,528				12,528
Accrued interest payable			304				304				-				-				304

		December 31, 2014
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(in thousands)
Financial assets:
Cash and cash equivalents		$	25,639			$	25,639			$	-			$	-			$	25,639
Investment securities Available for sale			154,334				-				154,334				-				154,334
Loans held for sale			438				-				438				-				438
Net loans			463,738				-				-				475,019				475,019
Bank-owned life insurance			9,092				9,092				-				-				9,092
Federal Home Loan Bank stock			1,887				1,887				-				-				1,887
Accrued interest receivable			2,095				2,095				-				-				2,095
Financial liabilities:
Deposits		$	586,112			$	416,254			$	-			$	170,542			$	586,796
Short-term borrowings			14,808				14,808				-				-				14,808
Other borrowings			10,624				-								10,822				10,822
Accrued interest payable			315				315				-				-				315

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

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

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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, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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-Name Accounting Standards Codification

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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

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