Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

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)

September 30, 2015
Available for Sale:
U.S. Government agencies	$	18,360	$	-	$	18,360	$	-
States and political subdivisions		62,930		-		62,930		-
Corporate obligations		5,058		-		5,058		-
Mortgage-backed securities-government
sponsored agencies		66,589		-		66,589		-
Equity securities-financial services		368		368		-		-
Total	$	153,305	$	368	$	152,937	$	-


Description	Total		Level 1		Level 2		Level 3
	(In thousands)

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 Reporting Date

(In thousands)

Description	Total		Level 1		Level 2		Level 3
September 30, 2015
Impaired Loans	$	10,051	$	-	$	-	$	10,051
Foreclosed Real Estate Owned		1,345		-		-		1,345


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
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
September 30, 2015
Impaired loans	$	9,625	Appraisal of collateral(1)	Appraisal adjustments(2)	10% - 25% (17.36%)
Impaired loans	$	426	Present value of future cash flows	Loan discount rate	5.75% - 6.75% (6.25%)

Foreclosed real estate owned	$	1,345	Appraisal of collateral(1)	Liquidation Expenses(2)	10%



	Quantitative Information about Level 3 Fair Value Measurements
(dollars 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 September 30, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	11,716	$	11,716	$	11,716	$	-	$	-
Securities		153,305		153,305		368		152,937		-
Loans receivable, net		537,789		548,575		-		-		548,575
Mortgage servicing rights		258		258		258		-		-
Regulatory stock		2,488		2,488		2,488		-		-
Bank owned life insurance		18,686		18,686		18,686		-		-
Accrued interest receivable		2,499		2,499		2,499		-		-

Financial liabilities:
Deposits		571,353		571,650		372,659		-		198,991
Short-term borrowings		41,546		41,546		41,546		-		-
Other borrowings		29,162		29,747		-		-		29,747
Accrued interest payable		996		996		996		-		-

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		-		-		-		-		-