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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2012
Fair Value Measurements [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
           

 

Fair Value Measurement Using

Description

Total

(Level 1)

(Level 2)

(Level 3)

                                                                                             (In thousands)

September 30, 2012

 

 

 

 

Available for Sale:

 

 

 

 

U.S. Government agencies

$7,042

 $-

$7,042

$-

States and political subdivisions

58,692

-

58,692

-

Corporate obligations

9,382

-

9,382

-

Mortgage-backed securities-government

  sponsored agencies

 

72,122

 

-

 

72,122

 

-

Equity securities-financial services

401

401

-

    ­  ______-

Total

$147,639

$401

$147,238

$             - 

 

 

 

 

 

December 31, 2011

 

 

 

 

Available for Sale:

 

 

 

 

U.S. Government agencies

$  13,398

$     -

$   13,398

$             -

States and political subdivisions

56,746

-

56,746

-

Corporate obligations

8,809

-

8,809

-

Mortgage-backed securities-government

  sponsored agencies

70,965

 

-

70,965

 

-

Equity securities-financial services

345

345

_____-_

­_______-

Total

$150,263

$345

$149,918

$             - 

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

 

 

Fair Value Measurement  using

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Description

Total

(Level 1)

(Level 2)

(Level 3)

September 30, 2012

 

Impaired Loans

$12,533

$-

$-

$12,533

Foreclosed Real Estate Owned

659

-

-

659

 

$13,192

$-

$-

$13,192

 

 

 

 

 

December 31, 2011

 

 

 

 

Impaired Loans

$12,399

$ -

$ -

$12,399

Foreclosed Real Estate Owned

2,910

-

-

2,910

 

$15,309

$ -

$ -

$15,309
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

 

Quantitative Information about Level 3 Fair Value Measurements

 

(In thousands)

Fair Value

Estimate

Valuation Techniques

Unobservable

Input

Range(Weighted

Average)

September 30, 2012

 

 

 

 

 

Impaired loans

 

$  12,533

Appraisal of

collateral(1)

Appraisal

adjustments(2)

 

Liquidation

expenses(2)

 

10-30% (24.05%)

 

 

20%

Foreclosed real estate owned

  $     659

Appraisal of

collateral(1)(3)

 

 

 

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which

      generally include various level 3 inputs which are not identifiable, less any associated allowance.

(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.

(3) Includes qualitative adjustments by management and estimated liquidation expenses.

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

 

Fair Value Measurements at September 30, 2012

 

 

 

 

 

Carrying Amount

 

 

 

 

Fair Value

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

 

Significant Unobservable Inputs

(Level 3)

Financial assets:

 

 

 

 

 

Cash and due from banks, interest-bearing deposits with banks and federal funds sold

 

 

$35,339

 

 

$35,339

 

 

$35,339

 

 

$-

 

 

$-

Securities

147,811

147,814

401

147,413

-

Loans receivable, net

474,160

485,255

-

-

485,255

Mortgage servicing rights

283

283

-

-

 283

Investment in FHLB stock

2,932

2,932

2,932

-

-

Bank owned life insurance

12,234

12,234

12,234

-

-

Accrued interest receivable

2,589

2,589

2,589

-

-

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

Deposits

541,590

543,356

330,734

-

212,622

Short-term borrowings

32,386

32,386

32,386

-

-

Other borrowings

27,533

30,780

-

-

30,780

Accrued interest payable

1,462

1,462

1,462

-

-

 

 

 

 

 

 

Off-balance sheet financial instruments:

 Commitments to extend credit and outstanding letters of credit

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

 

Fair Value Measurements at December 31, 2011

 

Carrying Amount

Fair Value

Financial assets:

 

 

Cash and due from banks, interest-

  bearing deposits with banks and

  federal funds sold

 

 

$21,423

 

 

$21,423

Securities

150,434

150,440

Loans receivable, net

452,449

463,118

Mortgage servicing rights

302

308

Investment in FHLB stock

3,593

3,593

Bank owned life insurance

11,887

11,887

Accrued interest receivable

2,468

2,468

 

 

 

Financial liabilities:

 

 

Deposits

525,767

527,707

Short-term borrowings

21,794

21,794

Other borrowings

27,670

30,002

Accrued interest payable

1,321

1,321

 

 

 

Off-balance sheet financial instruments:

 Commitments to extend credit and  

     outstanding letters of credit

 

 

-

 

 

-