Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017
Available for Sale:
U.S. Treasury securities	$	1,996	$	-	$	1,996	$	-
States and political subdivisions		125,200		-		125,200		-
Corporate obligations		10,107		-		10,107		-
Mortgage-backed securities-government
sponsored agencies		158,076		-		158,076		-
Equity securities-financial services		422		422		-		-
Total	$	295,801	$	422	$	295,379	$	-


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

December 31, 2016
Available for Sale:
U.S. Treasury securities	$	1,997	$	-	$	1,997	$	-
States and political subdivisions		125,101		-		125,101		-
Corporate obligations		10,112		-		10,112		-
Mortgage-backed securities-government
sponsored agencies		164,930		-		164,930		-
Equity securities-financial services		424		424		-		-
Total	$	302,564	$	424	$	302,140	$	-

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
March 31, 2017
Impaired Loans	$	2,601	$	-	$	-	$	2,601
Foreclosed Real Estate Owned		4,703		-		-		4,703


December 31, 2016
Impaired Loans	$	2,624	$	-	$	-	$	2,624
Foreclosed Real Estate Owned		5,302		-		-		5,302

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)
March 31, 2017
Impaired loans	$	1,460	Appraisal of collateral(1)	Appraisal adjustments(2)	10% (10%)
Impaired loans	$	1,141	Present value of future cash flows	Loan discount rate	4.00-5.25% (5.11%)
				Probability of default	0%

Foreclosed real estate owned	$	4,703	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, 2016
Impaired loans	$	1,473	Appraisal of collateral(1)	Appraisal adjustments(2)	10% (10%)
Impaired loans	$	1,151	Present value of future cash flows	Loan discount rate	4-5.25% (5.11%)
				Probability of default	0%

Foreclosed real estate owned	$	5,302	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, 2017
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	19,842	$	19,842	$	19,842	$	-	$	-
Securities		295,801		295,801		422		295,379		-
Loans receivable, net		712,542		717,527		-		-		717,527
Mortgage servicing rights		224		250				-		250
Regulatory stock		1,939		1,939		1,939		-		-
Bank owned life insurance		36,352		36,352		36,332		-		-
Accrued interest receivable		3,532		3,532		3,532		-		-

Financial liabilities:
Deposits		931,413		931,055		638,424		-		292,631
Short-term borrowings		28,383		28,383		28,383		-		-
Other borrowings		28,877		28,680		-		-		28,680
Accrued interest payable		909		909		909		-		-

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



	Fair Value Measurements at December 31, 2016
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	17,174	$	17,174	$	17,174	$	-	$	-
Securities		302,564		302,564		424		302,140		-
Loans receivable, net		707,426		716,661		-		-		716,661
Mortgage servicing rights		232		250		-		-		250
Regulatory stock		2,119		2,119		2,119		-		-
Bank owned life insurance		36,133		36,133		36,133		-		-
Accrued interest receivable		3,643		3,643		3,643		-		-

Financial liabilities:
Deposits		925,385		925,561		629,829		-		295,732
Short-term borrowings		32,811		32,811		32,811		-		-
Other borrowings		32,001		31,863		-		-		31,863
Accrued interest payable		1,069		1,069		1,069		-		-

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