Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

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, 2016
Available for Sale:
U.S. Treasury securities	$	2,004	$	-	$	2,004	$	-
U.S. Government agencies		2,001		-		2,001		-
States and political subdivisions		130,572		-		130,572		-
Corporate obligations		10,385		-		10,385		-
Mortgage-backed securities-government
sponsored agencies		164,780		-		164,780		-
Equity securities-financial services		384		384		-		-
Total	$	310,126	$	384	$	309,742	$	-


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

December 31, 2015
Available for Sale:
U.S. Government agencies	$	9,169	$	-	$	9,169	$	-
States and political subdivisions		60,755		-		60,755		-
Corporate obligations		4,974		-		4,974		-
Mortgage-backed securities-government
sponsored agencies		63,569		-		63,569		-
Equity securities-financial services		384		384		-		-
Total	$	138,851	$	384	$	138,467	$	-

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, 2016
Impaired Loans	$	4,411	$	-	$	-	$	4,411
Foreclosed Real Estate Owned		5,386		-		-		5,386


December 31, 2015
Impaired Loans	$	7,615	$	-	$	-	$	7,615
Foreclosed Real Estate Owned		2,847		-		-		2,847

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, 2016
Impaired loans	$	2,847	Appraisal of collateral(1)	Appraisal adjustments(2)	0 - 10% (9.50%)
Impaired loans	$	1,564	Present value of future cash flows	Loan discount rate	4 - 6.75% (5.46%)

Foreclosed real estate owned	$	5,386	Appraisal of collateral(1)	Liquidation Expenses(2)	0 - 10% (9.90%)



	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2015
Impaired loans	$	2,574	Appraisal of collateral(1)	Appraisal adjustments(2)	10% (10%)
Impaired loans	$	5,041	Present value of future cash flows	Loan discount rate	4-7% (5.61%)

Foreclosed real estate owned	$	2,847	Appraisal of collateral(1)	Liquidation Expenses(2)	10% (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, 2016
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	33,133	$	33,133	$	33,133	$	-	$	-
Securities		310,126		310,126		384		309,742		-
Loans receivable, net		700,035		715,469		-		-		715,469
Mortgage servicing rights		244		260		-		-		260
Regulatory stock		2,351		2,351		2,351		-		-
Bank owned life insurance		35,889		35,889		35,889		-		-
Accrued interest receivable		3,541		3,541		3,541		-		-

Financial liabilities:
Deposits		922,244		922,394		275,564		-		646,830
Short-term borrowings		33,156		33,156		33,156		-		-
Other borrowings		42,542		42,712		-		-		42,712
Accrued interest payable		1,040		1,040		1,040		-		-

Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-



	Fair Value Measurements at December 31, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	10,010	$	10,010	$	10,010	$	-	$	-
Securities		138,851		138,851		384		138,467		-
Loans receivable, net		552,627		559,416		-		-		559,416
Mortgage servicing rights		261		291		-		-		291
Regulatory stock		3,412		3,412		3,412		-		-
Bank owned life insurance		18,820		18,820		18,820		-		-
Accrued interest receivable		2,363		2,363		2,363		-		-

Financial liabilities:
Deposits		550,909		551,175		354,162		-		197,013
Short-term borrowings		53,235		53,235		53,235		-		-
Other borrowings		41,126		41,260		-		-		41,260
Accrued interest payable		957		957		957		-		-

Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-