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Note 4 - Fair Value Disclosure Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

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

						March 31, 2017
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
U.S. government agency securities		$	-			$	9,827			$	-			$	9,827
Obligations of states and political subdivisions			-				79,697				-				79,697
Mortgage-backed securities in government-sponsored entities			-				19,036				-				19,036
Private-label mortgage-backed securities			-				1,602				-				1,602
Total debt securities			-				110,162				-				110,162
Equity securities in financial institutions			-				290				-				290
Total		$	-			$	110,452			$	-			$	110,452

						December 31, 2016
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
U.S. government agency securities		$	-			$	10,236			$	-			$	10,236
Obligations of states and political subdivisions			-				81,223				-				81,223
Mortgage-backed securities in government-sponsored entities			-				20,069				-				20,069
Private-label mortgage-backed securities			-				1,709				-				1,709
Total debt securities			-				113,237				-				113,237
Equity securities in financial institutions			-				1,139				-				1,139
Total		$	-			$	114,376			$	-			$	114,376

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

						March 31, 2017
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a nonrecurring basis:
Impaired loans		$	-			$	-			$	585			$	585
Other real estate owned			-				-				27				27

						December 31, 2016
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a nonrecurring basis:
Impaired loans		$	-			$	-			$	6,498			$	6,498
Other real estate owned			-				-				511				511

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

Quantitative Information about Level III Fair Value Measurements

(Dollar amounts in thousands)

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Weighted  Average)

March 31, 2017

Impaired loans

$

585

Appraisal of collateral (1)

Appraisal adjustments (2)

3.5%

to

8.3% (5.6%)

Other real estate owned

$

27

Appraisal of collateral (1)

Appraisal adjustments (2)

0.0%

to

10.0%

Quantitative Information about Level III Fair Value Measurements

(Dollar amounts in thousands)

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range (Weighted Average)

December 31, 2016

Impaired loans

$

4,928

Discounted cash flow

Discount rate

3.1%

to

7.0% (5.1%)

1,570

Appraisal of collateral (1)

Appraisal adjustments (2)

0.0%

to

59.7% (28.2%)

Other real estate owned

$

511

Appraisal of collateral (1)

Appraisal adjustments (2)

0%

to

10.0

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

		March 31, 2017
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Cash and cash equivalents		$	62,364			$	62,364			$	-			$	-			$	62,364
Investment securities Available for sale			110,452				-				110,452				-				110,452
Loans held for sale			9,462				8,328				1,134				-				9,462
Net loans			830,438				-				-				834,096				834,096
Bank-owned life insurance			15,334				15,334				-				-				15,334
Federal Home Loan Bank stock			3,589				3,589				-				-				3,589
Accrued interest receivable			3,068				3,068				-				-				3,068
Financial liabilities:
Deposits		$	847,851			$	603,907			$	-			$	205,035			$	808,942
Short-term borrowings			76,213				76,213				-				-				76,213
Other borrowings			39,388				-				-				16,565				16,565
Accrued interest payable			427				427				-				-				427

		December 31, 2016
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Cash and cash equivalents		$	32,495			$	32,495			$	-			$	-			$	32,495
Investment securities Available for sale			114,376				-				114,376				-				114,376
Loans held for sale			634				-				634				-				634
Net loans			602,542				-				-				604,447				604,447
Bank-owned life insurance			13,540				13,540				-				-				13,540
Restricted stock			2,204				2,204				-				-				2,204
Accrued interest receivable			2,426				2,426				-				-				2,426
Financial liabilities:
Deposits		$	629,934			$	440,500			$	-			$	189,871			$	630,371
Short-term borrowings			68,359				68,359				-				-				68,359
Other borrowings			9,437				-								9,512				9,512
Accrued interest payable			395				395				-				-				395

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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-SubTopic 10
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