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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

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, 2015
Available for Sale:
U.S. Government agencies		$	27,132		$	-		$	27,132		$	-
States and political subdivisions			59,058			-			59,058			-
Corporate obligations			6,531			-			6,531			-
Mortgage-backed securities-government
sponsored agencies			62,577			-			62,577			-
Equity securities-financial services			376			376			-			-
Total		$	155,674		$	376		$	155,298		$	-
December 31, 2014
Available for Sale:
U.S. Government agencies		$	28,975		$	-		$	28,975		$	-
States and political subdivisions			54,332			-			54,332			-
Corporate obligations			6,486			-			6,486			-
Mortgage-backed securities-government
sponsored agencies			66,204			-			66,204			-
Equity securities-financial services			398			398			-			-
Total		$	156,395		$	398		$	155,997		$	-

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, 2015
Impaired Loans		$	11,124		$	-		$	-		$	11,124
Foreclosed Real Estate Owned			1,698			-			-			1,698
December 31, 2014
Impaired Loans		$	11,312		$	-		$	-		$	11,312
Foreclosed Real Estate Owned			3,726			-			-			3,726

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)
March 31, 2015
Impaired loans	$	10,682		Appraisal of collateral(1)	Appraisal adjustments(2)		10.00-32.50% (21.62%)
Impaired loans	$	442		Present value of future cash flows	Loan discount rate		6.25-7.00% (6.71%)
Foreclosed real estate owned	$	1,698		Appraisal of collateral(1)	Liquidation Expenses(2)		10%

	Quantitative Information about Level 3 Fair Value Measurements
(In thousands)	Fair Value Estimate			Valuation Techniques	Unobservable Input		Range (Weighted Average)
December 31, 2014
Impaired loans	$	11,312		Appraisal of collateral(1)	Appraisal adjustments(2)		6-33% (23.35%)
Foreclosed real estate owned	$	3,726		Appraisal of collateral(1)	Liquidation Expenses(2)		10%

(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.

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

	Fair Value Measurements at March 31, 2015
	Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Financial assets:
Cash and cash equivalents	$	19,627		$	19,627		$	19,627		$	-		$	-
Securities		155,674			155,674			376			155,298			-
Loans receivable, net		512,954			524,641			-			-			524,641
Mortgage servicing rights		265			265			265			-			-
Regulatory Stock		1,838			1,838			1,838			-			-
Bank owned life insurance		18,417			18,417			18,417			-			-
Accrued interest receivable		2,329			2,329			2,329			-			-
Financial liabilities:
Deposits		570,206			570,470			348,655			-			221,815
Short-term borrowings		30,581			30,581			30,581			-			-
Other borrowings		27,807			28,885			-			-			28,885
Accrued interest payable		955			955			955			-			-
Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-			-			-			-			-

	Fair Value Measurements at December 31, 2014
	Carrying Amount			Fair Value			Level 1			Level 2			Level 3
Financial assets:
Cash and cash equivalents	$	12,376		$	12,376		$	12,376		$	-		$	-
Securities		156,395			156,395			398			155,997			-
Loans receivable, net		495,260			507,833			-			-			507,833
Mortgage servicing rights		271			277			-			277			-
Regulatory stock		1,714			1,714			1,714			-			-
Bank owned life insurance		18,284			18,284			18,284			-			-
Accrued interest receivable		2,339			2,339			2,339			-			-
Financial liabilities:
Deposits		559,944			560,243			338,112			-			222,131
Short-term borrowings		25,695			25,695			25,695			-			-
Other borrowings		22,200			23,228			-			-			23,228
Accrued interest payable		966			966			966			-			-
Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of  credit		-			-			-			-			-

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

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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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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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