XML 38 R31.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2014
Fair Value Disclosures [Abstract] |
Balances of Assets Measured at Fair Value on a Recurring Basis | The following tables present the balances of assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 (in thousands).
|  |  |  |  | Fair Value Measurements at September 30, 2014 |
Description |  | Balance as of September 30, 2014 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency and mortgage-backed securities |  | $ | 83,380 |  |  | $ | — |  |  | $ | 83,380 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | 21,325 |  |  |  | — |  |  |  | 21,325 |  |  |  | — |
Corporate equity securities |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | — |
|  | $ | 104,710 |  |  | $ | 5 |  |  | $ | 104,705 |  |  | $ | — |
|  |  |  |  | Fair Value Measurements at December 31, 2013 |
Description |  | Balance as of December 31, 2013 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency and mortgage-backed securities |  | $ | 84,897 |  |  | $ | — |  |  | $ | 84,897 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | 18,399 |  |  |  | — |  |  |  | 18,399 |  |  |  | — |
Corporate equity securities |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | — |
|  | $ | 103,301 |  |  | $ | 5 |  |  | $ | 103,296 |  |  | $ | — |
Summary of Assets Measured at Fair Value on a Nonrecurring Basis | The following tables summarize the Company’s assets that were measured at fair value on a nonrecurring basis during the periods (dollars in thousands):
|  |  |  |  | Fair Value Measurements at September 30, 2014 |
Description |  | Balance as of September 30, 2014 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans, net |  | $ | 2,812 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,812 |
Other real estate owned, net |  |  | 1,807 |  |  |  | — |  |  |  | — |  |  |  | 1,807 |
|  |  |  |  | Fair Value Measurements at December 31, 2013 |
Description |  | Balance as of December 31, 2013 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans, net |  | $ | 3,972 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,972 |
Other real estate owned, net |  |  | 3,030 |  |  |  | — |  |  |  | — |  |  |  | 3,030 |
|  | Quantitative information about Level 3 Fair Value Measurements for September 30, 2014 |
|  | Fair Value |  |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted- Average) |
Impaired loans, net |  | $ | 2,812 |  |  | Property appraisals |  | Selling cost |  |  | 10 | %
Other real estate owned, net |  | $ | 1,807 |  |  | Property appraisals |  | Selling cost |  |  | 7 | %
Quantitative Information about Level 3 Fair Value Measurements |
|  | Quantitative information about Level 3 Fair Value Measurements for September 30, 2014
|  | Fair Value |  |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted- Average)
Assets |  |  |  |  |  |  |  |  |  |
Impaired loans, net |  | $ | 2,812 |  |  | Property appraisals |  | Selling cost |  | 10%
|  |  |  |  |  |  |  | Discount for lack of marketability and age of appraisal |  | 0-TBD% (TBD%)
Other real estate owned, net |  | $ | 1,807 |  |  | Property appraisals |  | Selling cost |  | 7%
Carrying Values and Estimated Fair Values of Company's Financial Instruments | The carrying values and estimated fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013 are as follows (in thousands):
|  | Fair Value Measurements at September 30, 2014 Using |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |  |  | Fair Value |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short-term investments |  | $ | 10,747 |  |  | $ | 10,747 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,747 |
Securities |  |  | 104,710 |  |  |  | 5 |  |  |  | 104,705 |  |  |  | — |  |  |  | 104,710 |
Restricted securities |  |  | 1,636 |  |  |  | — |  |  |  | 1,636 |  |  |  | — |  |  |  | 1,636 |
Loans held for sale |  |  | 181 |  |  |  | — |  |  |  | 181 |  |  |  | — |  |  |  | 181 |
Loans, net |  |  | 364,974 |  |  |  | — |  |  |  | — |  |  |  | 371,773 |  |  |  | 371,773 |
Bank owned life insurance |  |  | 11,244 |  |  |  | — |  |  |  | 11,244 |  |  |  | — |  |  |  | 11,244 |
Accrued interest receivable |  |  | 1,327 |  |  |  | — |  |  |  | 1,327 |  |  |  | — |  |  |  | 1,327 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 438,919 |  |  | $ | — |  |  | $ | 327,674 |  |  | $ | 111,148 |  |  | $ | 438,822 |
Federal funds purchased |  |  | 5,325 |  |  |  | — |  |  |  | 5,325 |  |  |  | — |  |  |  | 5,325 |
Other borrowings |  |  | 6,033 |  |  |  | — |  |  |  | — |  |  |  | 6,093 |  |  |  | 6,093 |
Trust preferred capital notes |  |  | 9,279 |  |  |  | — |  |  |  | — |  |  |  | 10,028 |  |  |  | 10,028 |
Accrued interest payable |  |  | 143 |  |  |  | — |  |  |  | 143 |  |  |  | — |  |  |  | 143 |
|  | Fair Value Measurements at December 31, 2013 Using |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |  |  | Fair Value |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short-term investments |  | $ | 31,508 |  |  | $ | 31,508 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,508 |
Securities |  |  | 103,301 |  |  |  | 5 |  |  |  | 103,296 |  |  |  | — |  |  |  | 103,301 |
Restricted securities |  |  | 1,804 |  |  |  | — |  |  |  | 1,804 |  |  |  | — |  |  |  | 1,804 |
Loans, net |  |  | 346,449 |  |  |  | — |  |  |  | — |  |  |  | 353,874 |  |  |  | 353,874 |
Bank owned life insurance |  |  | 10,978 |  |  |  | — |  |  |  | 10,978 |  |  |  | — |  |  |  | 10,978 |
Accrued interest receivable |  |  | 1,302 |  |  |  | — |  |  |  | 1,302 |  |  |  | — |  |  |  | 1,302 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 450,711 |  |  | $ | — |  |  | $ | 326,955 |  |  | $ | 124,422 |  |  | $ | 451,377 |
Other borrowings |  |  | 6,052 |  |  |  | — |  |  |  | — |  |  |  | 6,095 |  |  |  | 6,095 |
Trust preferred capital notes |  |  | 9,279 |  |  |  | — |  |  |  | — |  |  |  | 9,399 |  |  |  | 9,399 |
Accrued interest payable |  |  | 177 |  |  |  | — |  |  |  | 177 |  |  |  | — |  |  |  | 177 |

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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration