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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables present the fair value measurements of securities available for sale recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and 2012:
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
 
in Active
 
Significant
 
 
 
 
 
 
 
 
 
Markets for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Fair
 
Assets
 
Inputs
 
Inputs
 
 
 
Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
U.S. Government-sponsored enterprises
 
$
56,277
 
$
 
$
56,277
 
$
 
Municipals
 
 
46,323
 
 
 
 
46,323
 
 
 
Mortgage-backed and asset-backed securities - government-
    sponsored enterprises
 
 
73,941
 
 
 
 
73,941
 
 
 
Mortgage-backed and asset-backed securities - private labeled
 
 
1,232
 
 
 
 
1,232
 
 
 
Other securities
 
 
3,636
 
 
1,963
 
 
 
 
1,673
 
Total available for sale securities
 
$
181,409
 
$
1,963
 
$
177,773
 
$
1,673
 
Loans held for sale (mandatory pricing agreements)
 
 
24,254
 
 
 
 
24,254
 
 
 
Forward contracts
 
 
227
 
 
227
 
 
 
 
 
Interest rate lock commitments
 
 
79
 
 
 
 
 
 
79
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
in Active
 
Significant
 
 
 
 
 
 
 
 
 
Markets for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Fair
 
Assets
 
Inputs
 
Inputs
 
 
 
Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
U.S. Government-sponsored enterprises
 
$
19,618
 
$
 
$
19,618
 
$
 
Municipals
 
 
42,540
 
 
 
 
42,540
 
 
 
Mortgage-backed and asset-backed securities - government-
    sponsored enterprises
 
 
77,489
 
 
 
 
77,489
 
 
 
Mortgage-backed and asset-backed securities - private labeled
 
 
2,453
 
 
 
 
2,453
 
 
 
Other securities
 
 
14,593
 
 
1,553
 
 
12,200
 
 
840
 
Total available for sale securities
 
$
156,693
 
$
1,553
 
$
154,300
 
$
840
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying consolidated balance sheets using significant unobservable (Level 3) inputs:
 
 
 
Securities
 
Interest Rate
 
 
 
Available for
 
Lock
 
 
 
Sale
 
Commitments
 
Balance, January 1, 2012
 
$
470
 
$
 
Total realized and unrealized gains and losses
 
 
 
 
 
 
 
Included in net income
 
 
(112)
 
 
 
Included in other comprehensive income
 
 
482
 
 
 
Balance, December 31, 2012
 
 
840
 
 
 
Total realized and unrealized gains and losses
 
 
 
 
 
 
 
Included in net income
 
 
 
 
79
 
Included in other comprehensive income
 
 
833
 
 
 
Balance, December 31, 2013
 
$
1,673
 
$
79
 
Fair Value Measurements, Nonrecurring [Table Text Block]
The following tables present the fair value measurements recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and 2012:
 
 
 
 
 
 
2013
 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
 
in Active
 
Significant
 
 
 
 
 
 
 
 
 
Markets for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Fair
 
Assets
 
Inputs
 
Inputs
 
 
 
Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Impaired loans
 
$
137
 
$
 
$
 
$
137
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
 
in Active
 
Significant
 
 
 
 
 
 
 
 
 
Markets for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Fair
 
Assets
Inputs
 
Inputs
 
 
 
Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Impaired loans
 
$
1,481
 
$
 
$
 
$
1,481
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill.
 
 
 
 
Fair Value at
 
 
 
 
 
 
 
 
 
 
December 31,
 
Valuation
 
Unobservable
 
 
 
 
 
 
2013
 
Technique
 
Inputs
 
Range
 
 
 
 
 
 
 
 
Discount margin
 
6% - 12.5%
 
 
 
 
 
 
 
 
Cumulative default %
 
2% - 100%
 
 
 
 
 
 
 
 
Loss given default %
 
85% - 100%
 
Other securities
 
$
1,673
 
Discounted cash flow
 
Cumulative prepayment %
 
0% - 100%
 
 
 
 
 
 
 
 
 
 
 
 
Collateral dependent
   impaired loans
 
$
137
 
Fair value of collateral
 
Discount for type of
property and current market conditions
 
0% - 54%
 
 
 
 
 
 
 
 
 
 
 
 
IRLCs
 
$
79
 
Discounted cash flow
 
Loan closing rates
 
53% - 97%
 
 
 
 
 
Fair Value at
 
 
 
 
 
 
 
 
 
 
December 31,
 
Valuation
 
Unobservable
 
 
 
 
 
 
2012
 
Technique
 
Inputs
 
Range
 
 
 
 
 
 
 
 
Discount margin
 
7% - 14.25%
 
 
 
 
 
 
 
 
Cumulative default %
 
2% - 100%
 
 
 
 
 
 
 
 
Loss given default %
 
85% - 100%
 
Other securities
 
$
840
 
Discounted cash flow
 
Cumulative prepayment %
 
0% - 100%
 
Collateral dependent impaired loans
 
$
1,481
 
Market comparable properties
 
Marketability discount
 
12%
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following schedule includes the carrying value and estimated fair value of all financial assets and liabilities at December 31, 2013 and 2012:
 
 
 
2013
 
 
 
Fair Value Measurements Using
 
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
 
In Active
 
Significant
 
 
 
 
 
 
 
 
 
Market for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Carrying
 
Assets
 
Inputs
 
Inputs
 
 
 
Amount
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Cash and cash equivalents
 
$
53,690
 
$
53,690
 
$
 
$
 
Interest bearing time deposits
 
 
2,500
 
 
2,500
 
 
 
 
 
Loans held for sale (best efforts pricing agreements)
 
 
4,356
 
 
 
 
4,356
 
 
 
Loans receivable - net
 
 
495,727
 
 
 
 
 
 
500,447
 
Accrued interest receivable
 
 
2,904
 
 
2,904
 
 
 
 
 
FHLB stock
 
 
2,943
 
 
 
 
2,943
 
 
 
Deposits
 
 
673,095
 
 
362,634
 
 
 
 
315,179
 
FHLB advances
 
 
31,793
 
 
 
 
33,415
 
 
 
Accrued interest payable
 
 
102
 
 
102
 
 
 
 
 
Subordinated debt
 
 
2,789
 
 
 
 
2,978
 
 
 
 
 
 
2012
 
 
Fair Value Measurements Using
 
 
 
 
 
Quoted Prices
 
 
 
 
 
 
 
 
 
 
 
In Active
 
Significant
 
 
 
 
 
 
 
 
 
Market for
 
Other
 
Significant
 
 
 
 
 
 
Identical
 
Observable
 
Unobservable
 
 
 
Carrying
 
Assets
 
Inputs
 
Inputs
 
 
 
Amount
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Cash and cash equivalents
 
$
32,513
 
$
32,513
 
$
 
$
 
Loans held for sale (best efforts pricing agreements)
 
 
63,234
 
 
 
 
63,234
 
 
 
Loans receivable - net
 
 
352,328
 
 
 
 
 
 
351,194
 
Accrued interest receivable
 
 
2,196
 
 
2,196
 
 
 
 
 
FHLB stock
 
 
2,943
 
 
 
 
2,943
 
 
 
Deposits
 
 
530,691
 
 
300,818
 
 
 
 
236,375
 
FHLB advances
 
 
40,686
 
 
 
 
42,986
 
 
 
Accrued interest payable
 
 
120
 
 
120