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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2013
Fair Value Measurements [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]

 

Fair Value Measurement Using

Reporting Date

 

 

 

 

 

Description

 

 

 

 

 

Total

(Level 1)

(Level 2)

(Level 3)

                                                                                             (In thousands)

 

 

 

 

 

March 31, 2013

 

 

 

 

Available for Sale:

 

 

 

 

US Government agencies

 $17,295

$-

$17,295

$-

States and political subdivisions

58,327

-

58,327

-

Corporate obligations

8,830

-

8,830

-

Mortgage-backed securities-government

  sponsored agencies

 

63,833

 

-

 

63,833

 

-

Equity securities-financial services

313

313

    ­  ______-

     -

Total

$148,598

$313

$148,285         

   $-

 

 

 

 

 

December 31, 2012

 

 

 

 

Available for Sale:

 

 

 

 

US Government agencies

$  13,092

$     -

$   13,092

$             -

States and political subdivisions

58,786

-

58,786

-

Corporate obligations

8,868

-

8,868

-

Mortgage-backed securities-government

  sponsored agencies

64,325

 

-

64,325

 

-

Equity securities-financial services

319

319

_____-_

­_______-

Total

$145,390

$319

$145,071

$             - 

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

 

 

Fair Value Measurement Reporting Date using

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Description

 

 

 

Total

 

 

 

 (Level 1)

 

 

 

(Level 2)

 

 

 

(Level 3)

March 31, 2013

 

Impaired Loans

$11,084

$-

$-

$11,084

Foreclosed Real Estate Owned

1,099

-

-

1,099

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

Impaired Loans

$11,616

$ -

$ -

$11,616

Foreclosed Real Estate Owned

852

-

-

852

 

 

 

 

 
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)

December 31, 2012

 

 

 

 

 

Impaired loans

 

$11,616

Appraisal of

collateral(1)

Appraisal

adjustments(2)

 

 

 

            0-30% (24.10%)

 

 

Foreclosed real estate owned

  $   852

Appraisal of

collateral(1)(3)

Liquidation

Expenses(2)

 

20%

 

(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 March 31, 2013

 

 

 

 

 

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 cash equivalents

$15,945

$15,945

$15,945

$-

$-

Securities

148,771

148,773

313

148,460

-

Loans receivable, net

472,937

486,608

-

-

486,608

Mortgage servicing rights

234

234

234

-

-

Regulatory Stock

2,533

2,533

2,533

-

-

Bank owned life insurance

14,402

14,402

14,402

-

-

Accrued interest receivable

2,456

2,456

2,456

-

-

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

Deposits

535,632

537,201

324,564

-

212,637

Short-term borrowings

21,859

21,859

21,859

-

-

Other borrowings

25,343

28,068

-

-

28,068

Accrued interest payable

1,082

1,082

1,082

-

-

 

 

 

 

 

 

Off-balance sheet financial instruments:

 Commitments to extend credit and outstanding letters of credit

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 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 cash equivalents

$12,295

$12,295

$12,295

$-

$-

Securities

145,563

145,567

319

145,248

-

Loans receivable, net

471,208

485,848

-

-

485,848

Mortgage servicing rights

243

243

-

243

-

Regulatory stock

2,630

2,630

2,630

-

-

Bank owned life insurance

15,357

15,357

15,357

-

-

Accrued interest receivable

2,393

2,393

2,393

-

-

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

Deposits

524,425

526,081

313,166

-

212,915

Short-term borrowings

28,697

28,697

28,697

-

-

Other borrowings

22,487

25,426

-

-

25,426

Accrued interest payable

1,242

1,242

1,242

-

-

 

 

 

 

 

 

Off-balance sheet financial instruments:

 Commitments to extend credit

and outstanding letters of  credit

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-